Philippines: Anscor divests stake in Cirrus Medical Staffing for $36.85m

Philippine holding company A Soriano Corp (Anscor) has divested its entire stake in US-based Cirrus Medical Staffing lnc (CMSI) for $36.85 million.

Anscor exited its CMSI investment through a merger agreement between its wholly-owned British Virgin lsland company IQ Healthcare Investments Ltd, and Webster Capital Management LLC.

The Anscor stake sold in the deal represented 93.55 per cent of total outstanding shares in CMSI. Anscor had acquired CMSI in 2008.

CMSI owns 100 per cent of Cirrus Holdings USA LLC, a North Carolina limited liability company engaged in the contract and temporary staffing and permanent placement of nurses and allied healthcare professionals in the US.

CMSI also owns Cirrus Global Services Inc, a Philippine domiciled company that provides finance and administrative support services.

The latest transaction is Anscor’s third divestment in nine months. In December, the company sold its shares in Cebu Business Park Lot to Skyrise Realty and Development Corp for $8 million.

Then last July, Anscor earned over $7.7 million by selling its 100 per cent stake in Enderun Colleges Inc to Le Pensuer Inc, a US-based business consulting company.

Anscor’s last trading price increased 0.14 per cent or P0.0100 to close at P7.01 per share on Friday, October 20.

Also Read:

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Philippines: Anscor divests biz park property for $8m

Philippines: STI-ESG divests 20% stake in Maestro Holdings

Philippines: Anscor injects $5m to up its holding in KSA Realty

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.