LBC Express Holdings, Inc. acquired 92.5% stake in LBC Mabuhay SDN BHD from Jamal Limited for $0.46 million.
August 14, 2018
Share
LBC Express Holdings, Inc. (PSE:LBC) acquired 92.5% stake in LBC Mabuhay (Malaysia) SDN BHD from Jamal Limited for $0.46 million on August 15, 2018. As per the terms, consideration will be payable in cash and LBC Express Holdings, Inc. will acquire 0.92 million shares at $0.49922486 per share of Jamal Limited in LBC Mabuhay. The transaction has been approved by the Board of Directors of LBC Express Holdings, Inc. The acquisition is expected to benefit LBC Express by contributing to the global revenue stream of LBC Express.
LBC Express Holdings, Inc. (PSE:LBC) completed the acquisition of 92.5% stake in LBC Mabuhay (Malaysia) SDN BHD from Jamal Limited on August 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. 
