Tuesday 25 September
Powered by Ajaxy
Mar 10, 2018 @ 11:28

Araneta family folds in 4 US-based affiliate firms into LBC


Logistics giant LBC Express Holdings Inc. of the Araneta family is acquiring four affiliate cargo and remittance companies based in the US to boost its revenue stream.

In a stock exchange filing, LBC said its board of directors approved the purchase of LBC Mundial Corp., LBC Mabuhay Saipan, Inc., LBC Mabuhay Hawaii Corp. and LBC Mabuhay North America Corp. for $8.5 million in cash.

“The acquisition is expected to benefit the company by contributing to its global revenue stream,” LBC said.

The biggest of the four the acquisitions is LBC Mundial, which operates as a cargo and remittance company in California. it was acquired for $6.86 million.

Tags: , , , , , , , , , ,

Related Stories
Chinese retail giant Alibaba said on Thursday that its revenue jumped 61 percent in the
Netflix shares plunged Monday after the leading streaming television service said subscriber growth fell short
Uber on Wednesday said its revenue revved in the first quarter of this year and
Premium Leisure Corp., the gaming investment holding company of the Sy family, grew its first


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.