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December 16, 2020 | 12:03 am Font Size
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FAST LOGISTICS Group is planning to expand its existing facilities in the country and take part in the distribution of coronavirus vaccines, after CVC Capital Partners, a private equity and investment advisory firm, committed to invest P6 billion in the company.
“The investment of CVC here amounting to P6 billion, which goes directly to the company, will be used to accelerate our growth here, including expansion of the present facilities that we have. We will definitely be investing also in digital transformation and technology, and looking also at other opportunities [to increase our footprint through] mergers and acquisitions here,” Bonifacio O. Doroy, Fast Group director, said at a virtual press briefing on Tuesday.
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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