Lucio Tan's MacroAsia eyes logistics acquisition

Michelle Ong, ABS-CBN News

Posted at Oct 16 2017 03:41 PM

MANILA - Taipan Lucio Tan's MacroAsia Corp, which handles airport ground services, is looking to acquire a local logistics firm to compliment its business, a company official said Monday.

The firm that handles catering services among others said it hoped to finish the feasibility study for the transaction within a year. It did not disclose the target.

"We were into a logistics venture 8 years ago but the joint venture didn't do well. We had to close it. But now, we're looking at some acquisitions," said MacroAsia CFO Amador Sendin.

Tan chairs both MacroAsia and flag carrier Philippine Airlines.

MacroAsia also disclosed to the stock exchange on Monday that it would establish an aviation career and resource development company under a joint venture agreement with PTC Holdings Corp.