LBC Express Holdings, Inc. acquired an unknown minority stake in Orient Freight International, Inc. from Rayomar Management Inc. for PHP 72.9 million.
March 19, 2018
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LBC Express Holdings, Inc. (PSE:LBC) acquired an unknown minority stake in Orient Freight International, Inc. from Rayomar Management Inc. for PHP 72.9 million on March 19, 2018. As per the terms, LBC Express acquired 1.15 million shares for the sale price of PHP 63.43 per share. In a related transaction, LBC Express is subscribing 3.3 million common shares out of the unissued capital stock of Orient Freight International at a subscription price of PHP 44.4 per share for a total of approximately 150 million. Upon completion of both transaction, LBC Express Holdings, Inc. holds 30% stake. The transaction has been approved by the Board of LBC Express.
LBC Express Holdings, Inc. (PSE:LBC) completed the acquisition of an unknown minority stake in Orient Freight International, Inc. from Rayomar Management Inc. on March 19, 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. 
