SM Investments Group buys 34.5% of Negros Navigation Corp.

April 4, 2017

SM Investments Corp has bought 34.5 percent of Negros Navigation Corp., which owns logistics company 2GO Group, a disclosure to the Philippine Stock Exchange said Tuesday. In its disclosure, SM Investments Group said the rationale for the purchase of Negros Navigation’s Series B Preferred Shares was “to invest in a fast growing, dynamic logistics business.” The price per share was 14 US cents, which brought acquisition price to $124.5 million, it said. Negros Navigation is the majority shareholder of 2GO Group, Inc., the country’s largest integrated supply chain operator whose businesses include shipping, freight forwarding, warehousing, and express delivery services, according to the disclosure. DMS