The Philippine“s Alliance Global Group Inc. said it would use Pso 1.16 billion in new equity from a Singapore-based company to expand its glass manufacturing and food and beverage businesses.
Allian…
The Philippine“s Alliance Global Group Inc. said it would use Pso 1.16 billion in new equity from a Singapore-based company to expand its glass manufacturing and food and beverage businesses. Alliance Global said in a statement that International Advisory Group (IAG), through designee investor Washington Assets Ltd., had finalized its purchase of 105 million new shares at Pso 11 each. The planned purchase was announced in December. “The new investment gives added momentum to Alliance Global“s ongoing expansion into new lucrative areas as a conglomerate engaged in diverse businesses,” said the company. It said a main focus of new investment would be the Pso 5 billion food and beverage subsidiary, Alliance Growers Holdings, Inc., formed last year. “It has also announced plans to gain controlling interests in some local food and beverage businesses,” it said. “The entry of a new major investor is also in line with Alliance Global“s avowed strategy of tapping the international equity market to support its expansion activities for its glass manufacturing and food and beverage businesses,” it said.