SBS Subsidiary Acquires 17% Stake in Goldchester Holdings
Quezon City—(PHStocks)—SBS Holdings and Enterprises Corporation, a subsidiary of SBS Philippines Corporation (PSE: SBS), has acquired 150,000 common shares of Goldchester Holdings Corp. representing a 17% equity stake in the company for PhP480,799,500.00.
The investment is an excellent addition to the SBS Group property investment portfolio as it presents a rare opportunity to acquire a stake in high quality real estate investment in the Quezon City’s western area with an attractive potential return of investment for the company in the medium term. Goldchester Holdings is owner of a 3.1 hectares prime real estate property situated along Balintawak in Quezon City, close to the LRT transit convergence point, and Skyway extension and the Cloverleaf Balintawak projects.
“The acquisition is in furtherance of the diversification and investment strategy of the SBS Group to acquire strategically selected property related investments that will deliver income and capital growth and speaks of our commitment to keep growing and creating value for our stakeholders,” said Gerry D. Tan, President of SBS Philippines.
About SBS Philippines Corporation
SBS Philippines Corporation (the “Company”) is an importer, wholesaler and distributor of a wide range of chemical products serving a diverse set of industries which includes food and beverage, industrial and detergents, feeds and agriculture, water treatment, pharmaceuticals and personal care, building & constructions and mining & minerals. As a full line chemical distribution company, it. provides for a one-stop-shop business solution for various chemical requirements of its market customers.
The Company engages in multiple sourcing from different chemical producers and sells a broad range of chemical products and ingredients allowing choice and convenience for a more efficient and economical sourcing of various chemical needs of our customers.
More information on SBS Philippines Corporation is available at the SBS website at www.sbsph.com.