Millennium Global Acquires 49% Stake in Pacific Seafoods

Paranaque—(PHStocks)—Millennium Global Holdings Inc. (PSE: MG) has signed the Deed of Absolute Sale of 49% Ownership and Control in Pacific Seafoods Co. Ltd (PASECO), a non-stock Vietnamese enterprise primarily engaged in aqua foods and products processing and preservation.

The consideration for the acquisition of 49% of PASECO is VND17.15 billion, which is based upon 49% of PASECO’s chartered capital of VND35 billion.

Two thirds of the amount is payable immediately. The balance is payable not later than April 30, 2018, or as may be further agreed between the parties.