FAST Logistics Group, a leading domestic logistics firm owned by the Chiongbian family, is setting a P2-billion capital expenditure over the next two years to support its goal to achieve a leading nationwide presence in the cold chain service sector.
FastLogo William B. Chiongbian II, group pre
CVC Capital picks 40% stake in Philippines third-party logistics group Fast for $124m Premium
Private equity major CVC Capital Partners is investing 6 billion pesos ($124 million) in Philippine-based third-party logistics firm Fast Group to fund the company’s domestic and regional expansion.
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Published December 16, 2020, 7:00 AM
Leading global private equity firm CVC Capital Partners (CVC) is investing P6 billion to Fast Group (Fast), the Philippines leading end-to-end logistics player, to further boost Fast’s continued development and further expansion across the country.
Brice Cu, CVC Capital Partners managing director, revealed its infusion through CVC Capital Partners Asia IV at today’s formal announcement by Fast of the partnership. CVC now owns 40 percent of the partnership. Brice Cu, CVC Capital Partners managing director
“We are committed to invest P6 billion. We are pleased to finalize our partnership with Fast. We made the right choice,” said Cu, noting CVC has been working closely with Fast since 2019. He cited within a year’s time, the business has made excellent progress on a number of important strategic initiatives in digital transformation, automation of its processes, and most notably in building a pipeline of attractive acquisition oppor