SM Investments Corporation (PSE:SM) agreed to acquire 16% stake in Airspeed International Corporation from AIC Group Of Companies Holding Corp..

SM Investments Corporation (PSE:SM) agreed to acquire 16% stake in Airspeed International Corporation from AIC Group Of Companies Holding Corp. on August 24, 2022. The transaction will increase SMIC's shareholdings in Airspeed from the existing 35% to 51% of the outstanding voting capital stock of Airspeed, making Airspeed a subsidiary of SMIC.

Board of Directors of SM Investments Corporation approved the deal. The transaction is approved by board of director of SM Investments Corporation (PSE:SM).