CENTURY Pacific Group Inc. (CPG) has sold a 3-percent stake in listed unit Century Pacific Food Inc. (CNPF) through a private placement for P2.8 billion.

"On May 19, 2023, CNPF was informed by its majority shareholder, CPG, that its board of directors approved the sale of 114,000,000 common shares in CNPF through an overnight placement," the listed firm said in a disclosure on Monday.

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