LBC acquires stakes in Singapore, Australia counterparts

ABS-CBN News

Posted at Jun 28 2018 10:56 AM

Photo from LBC Express Facebook page

MANILA - LBC Express Holdings Inc on Thursday said its board approved the purchase of shares in some of its Australian and Singaporean counterparts.

LBC will buy shares in LBC Australia PTY Limited, LBC Money Transfer PTY Limited, LBC Express Airfreight PTE LTD and LBC Aircargo PTE LTD, the Filipino told the stock exchange. 

"The acquisition is expected to benefit the company by contributing to its global revenue stream," it said.

LBC Australia, LBC Airfreight and LBC Aircargo operate in Singapore and Australia while LBC Money Transfer is a remittance company from Australia, LBC said.