MANILA—Conglomerate SM Investments Corp. (SMIC) completed the acquisition of a minority stake in 2Go Group through a 34.5-percent stake in its parent company.
2Go is the country’s largest integrated supply chain operator whose businesses include shipping, freight forwarding, warehousing, and express delivery services.
“We are pleased with this opportunity to invest in a fast growing, dynamic logistics business. It will benefit from, as well as contribute to the country’s economic progress especially as development spreads to the provinces” said SMIC President Harley Sy.
Sy earlier said the group was optimistic about broader regional growth with the government plans in infrastructure, agriculture and tourism.