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Article: Aboitiz group no longer selling transport subsidiary.(Shipping)
- Article from:
- Manila Bulletin
- Article date:
- September 7, 2009
CopyrightCOPYRIGHT 2009 Manila Bulletin Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Aboitiz group is no longer looking for a new buyer for Aboitiz Transport System Corporation (ATS) as it has decided to grow the business instead of selling it after margins have begun to recover.Aboitiz Equity Ventures, Inc. (AEV) and its principal stockholder, Aboitiz & Company, Inc. (ACO), have been informed earlier this year by KGLI-NM, Holdings Inc. (KGLI-NM) that KGLI-NM will not proceed with the purchase of $30 million worth of ATS common shares.In an interview, AEV president Erramon Aboitiz said their transport business has become viable again after fuel prices have gone down and margins have gone back up again in recent months. Fuel gobbles up the biggest ...
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Article: BRIEFING - ASIA SHIPPING - SEPT 25, 2008.
AsiaPulse News;
September 25, 2008 ;
667 words
... ... ABOITIZ EQUITY VENTURES TO SELL TRANSPORT UNIT TO KGLI-NM MANILA - The board of directors of Aboitiz Equity ... unanimously voted to accept the unsolicited offer of KGLI-NM Holdings, Inc. (KGLI-NM) to buy all of AEV's shareholdings in Aboitiz ...
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