Philippine conglomerate Metro Pacific Investments Corp is buying one-third of Axelum Resources Corp for 5.32 billion pesos ($97.7 million), the coconut products manufacturer and exporter said on Monday.
Reuters earlier on Monday reported that Metro Pacific, which is expanding its agribusiness portfolio at a time of high commodity prices, was in talks to acquire a significant stake in Axelum, according to two sources with knowledge of the deal.
