LBC Express buys majority stake in Malaysian affiliate

By Lisbet K. Esmael

Aug 16, 2018 12:10 am

LOGISTICS and remittance service provider LBC Express Holdings Inc. said it now controlled Malaysia-based LBC Mabuhay after it purchased 925 million shares in the latter for $461,782.

LBC Express told the local bourse on Wednesday that the acquisition translated to 92.5 percent ownership in LBC Malaysia, which is also engaged in the courier business.

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