(31 March 2017. Pasay City, Philippines) SM Investments Corporation (SMIC) completed the acquisition of a minority stake in 2Go Group via a 34.5% stake in its parent company. 2Go is the country’s largest integrated supply chain operator whose businesses include shipping, freight forwarding, warehousing, and express delivery services.
“We are pleased with this opportunity to invest in a fast-growing, dynamic logistics business. It will benefit from, as well as contribute to the country’s economic progress especially as development spreads to the provinces” said Mr. Harley Sy, President of SMIC. Earlier this month when the company released its annual results, Mr. Sy said that the group is optimistic about broader regional growth with the government plans in infrastructure, agriculture, and tourism.
About SM Investments Corporation
SM Investments Corporation (SMIC) is one of the leading conglomerates in the Philippines with highly synergistic businesses in retail, banking, and property development. SMIC is one of the more responsible companies in the country due to its progressive approach in business and its comprehensive sustainability programs for its host communities through SM Foundation and SM Cares.
SMIC’s retail operations enjoy a strong brand franchise consisting of THE SM STORE; a strong portfolio of leading specialty retailers including Ace Hardware, SM Appliances, Homeworld, Our Home, Toy Kingdom, Watsons, and others; and its food retail chains, namely SM Supermarket, SM Hypermarket, Savemore, and WalterMart stores. SM’s property arm, SM Prime Holdings, Inc., is one of the largest integrated property developers in the Philippines with interests in mall, residential, commercial, and tourism development. SMIC’s interests in banking are in BDO Unibank, Inc. (BDO), the country’s leading bank, and in China Banking Corporation (China Bank), the sixth largest private bank. Combined, these two banks have a network of over 1,600 branches nationwide.
For further information, please contact:
Ms. Corazon P. Guidote
Senior Vice President for Investor Relations
SM Investments Corporation
E-mail: cora.guidote@sminvestments.com
Tel. No. (632) 857-0117
smicweb.smicit.com