LBC Express Holdings, Inc. acquired 50% stake in LBC Mabuhay Remittance SDN BHD from Jamal Limited for $0.56 million.
October 14, 2018
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LBC Express Holdings, Inc. (PSE:LBC) acquired 50% stake in LBC Mabuhay Remittance SDN BHD from Jamal Limited for $0.56 million on October 15, 2018. Consideration will be paid in cash. Under the transaction, LBC Express Holdings, Inc. acquired 1 share at $557,804 per share.
LBC Express Holdings, Inc. (PSE:LBC) completed the acquisition of 50% stake in LBC Mabuhay Remittance SDN BHD from Jamal Limited on October 15, 2018.
LBC Express Holdings, Inc. is a Philippines-based holding company. The Company is engaged in retail and corporate courier and cargo, money remittance, and logistics services. Its segments include logistics and money transfer services. The main services offered under its logistics business are domestic and international courier and freight forwarding services (by way of air, sea, and ground transport). Its logistics products are geared toward both retail and corporate clients. The money transfer services segment consists of remittance services (including branch retail services, prepaid remittance cards and online and mobile remit) and bill payment collection and corporate remittance payout services. The money transfer services segment includes an international presence through its branches, which comprises international inbound remittance services. The Company has a network of over 6,400 branches, hubs and warehouses, partners, and agents in approximately 30 countries.
LBC EXPRESS HOLDINGS, INC. 
