SM Investments Corporation (PSE:SM) authorized the conduct of a mandatory tender offer to acquire remaining 47.1% stake in 2GO Group, Inc. (PSE:2GO) for PHP 9.8 billion on March 18, 2021, In a related transaction, SM Investments Corporation signed an agreement to acquire an additional 22.36% stake in 2GO Group from Chelsea Logistics and Infrastructure Holdings Corp. (PSE:C) for PHP 4.6 billion. PHP 8.5 per share will be offered for 1,160.8 million shares.

Tender offer will begin on March 22, 2021 and will end on April 21, 2021. Transaction is expected to settle on May 5, 2021. Multinational Investment Bancorporation confirmed that the tender offer price for the tender offer shares is fair and reasonable.

Multinational Investment Bancorporation acted as fairness opinion provider to SM Investments Corporation. Peachie Leal and Aldrin Abaya of BDO Securities Corporation acted as Tender Offer Agent. BDO Stock Transfer, COG-Securities Operations and BDO Unibank, Inc. acted as stock transfer agents in the deal.