<article>Philippine Stock Exchange-listed firms LBC Express and Philab Holdings have secured their respective board’s approval for local acquisitions, according to their disclosures on Tuesday.</article>

Philippine Stock Exchange-listed firms LBC Express and Philab Holdings have secured their respective board’s approval for local acquisitions, according to their disclosures on Tuesday.
<h3>Logistics firm LBC acquires 30% stake in cargo company</h3>
Philippine-listed logistics firm <a href="https://www.dealstreetasia.com/?s=LBC">LBC Express Holdings</a> disclosed on Tuesday that it has secured board approval to acquire 30 per cent stake in <a href="https://www.dealstreetasia.com/?s=Orient%20Freight">Orient Freight International Incorporated</a> for P218.8 million ($4.2 million).
In a disclosure to the Philippine Stock Exchange, LBC said, its board has approved to invest and acquire 30 per cent equity interest in Orient Freight, which is involved in freight forwarding, warehousing, and customs brokerage.
The acquisition will be carried out by purchasing 1.15 million common shares of Orient Freight held by Rayomar Management Inc and by subscribing to 3.29 million commons shares out of the unissued capital stock of the target company.
The acquisition will diversify LBC&#8217;s businesses and realize returns on investments. It also forms part of LBC&#8217;s efforts to strengthen its logistics business in the country, according to the statement.
<h3>Healthcare firm Philab gets nod to acquire Sydenham Laboratories</h3>
Philippine-listed healthcare holding firm <a href="https://www.dealstreetasia.com/?s=Philab">Philab Holdings Corp</a> said on Tuesday that it has received board approval to acquire 67 per cent equity in local pharma firm <a href="https://www.dealstreetasia.com/?s=Sydenham">Sydenham Laboratories Inc</a> (SLI).
In a disclosure, Philab said its board of directors approved the proposed acquisition, which will give the company a total of 1.25 million shares of SLI or 67 per cent of the total issued and outstanding voting capital stock of the target firm.
The acquisition is valued at P390.6 million ($7.49 million), of which a total of P137 million ($2.6 million) will be paid in cash, Philab said.
Following the acquisition, Philab is expected to launch a programme in support of precision medicine that will enable both firms to maximize synergies and prowess in the healthcare field.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/logistics-firm-lbc-express-raises-50m-from-crescent-point-75667/">Philippines: Logistics firm LBC Express raises $50m from Crescent Point</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/philippines-healthcare-philab-veritas-genetics-91751/">Philippines: Healthcare firm Philab invests $9.6m in US-based Veritas Genetics</a>

Philippine-listed logistics firm LBC Express said it has secured board approval to acquire a 30% stake in cargo firm Orient Freight for ($4.2m).

PH Digest: LBC to pick 30% in Orient Freight; Philab gets nod to buy Sydenham Labs

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

PH Digest: LBC to pick 30% in Orient Freight; Philab gets nod to buy Sydenham Labs

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief