Millennium Global acquires 51% stake in seafood trader
January 13, 2014
Written by Roderick L. Abad Business Mirror
MILLENNIUM Global Holdings Inc. (MGHI) now owns the controlling stake in Millennium Ocean Star Corp. (MOSC) for P137.9 million, pursuant to the company’s plan to expand investments and business operations.
Both parties signed over the weekend a subscription agreement for the acquisition of 51-percent equity in MOSC. As per the transaction MGHI subscribed to 137,908,163 primary common shares of MOSC at a par value of P1.
With the acquisition, MGHI Corporate Secretary, Information and Compliance Officer Lyra Gracia Lipae-Fabelle told the BusinessMirror on Monday that “given [MOSC’s] promising revenue stream, it will be a good acquisition... <see more>