• By The Financial District

LBC SAID TO BE CONSIDERING STAKE SALE

The owners of LBC Express Holdings Inc. are reportedly considering a stake sale in the Philippine delivery company amid interest from potential buyers, people familiar with the matter said, Manuel Baigorri and Elffie Chew reported for Bloomberg.

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LBC Express’ owners, namely the Araneta family and private equity firm Crescent Point, are rumored to be in talks with investment banks to search for a buyer.


According to the sources who requested not to be named due to the privacy of the matter, as much as 40% of the business could be at stake. A sale process could kick off later this year, some logistics companies and investment funds expressing initial interest, one of the people said.


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Given the 13% rise of LBC Express shares in Manila in the past year, a 40% stake could be worth about $185 million based on the logistics firm’s market most recent market value.


No final decision has been made as LBC Express’ owners could still decide against pursuing a sale, the people said.


Neither representatives for the Araneta family nor for Crescent Point have responded to requests for comment.


Business: Business men in suite and tie in a work meeting in the office located in the financial district.

Founded in 1945 by the Araneta family as a brokerage and air cargo agent, LBC Express now provides express delivery, cargo shipping, and remittance services, according to its website.


It has a network of more than 6,400 locations, partners, and agents in more than 30 countries. The company went public on the Philippine stock exchange in 2001.


Crescent Point became a minority shareholder in LBC Express through a $50 million convertible bond deal in 2017. The private equity firm focuses on investments in consumer-facing businesses across China and Southeast Asia, according to its website.



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Happyornot makes feedback terminals measuring customer satisfaction sing smiley-face buttons.
Happyornot makes feedback terminals measuring customer satisfaction sing smiley-face buttons.