M&As this week: Philippine Long Distance Telephone, Globe Telecom, Rugby IPD

2 June 2016 (Last Updated June 2nd, 2016 18:30)

Philippine Long Distance Telephone Company (PLDT) and Globe Telecom, Inc. will acquire 50% stake each in San Miguel Corporation's (SMC) telecom business, Vega Telecom Inc.

Philippine Long Distance Telephone (PLDT) and Globe Telecom will acquire a 50% stake each in San Miguel Corporation's (SMC) telecom business, Vega Telecom.

The acquisition of 100% equity interest in the SMC subsidiary is worth PHP52.08bn ($1.11bn).

SMC will also share its liabilities, which are estimated at PHP17.02bn ($0.36m).

Albuquerque Hardwood Lumber has been acquired by Rugby IPD, a wholesale distributor of specialty building products.

"Rugby IPD is primarily engaged in the supply of architectural wood products, decorative surfacing, doors and millwork."

The acquisition is part of the company's expansion strategy to grow its business in New Mexico, and also add Amarillo as its fifth location in Texas, US.

Under the terms of the acquisition, the new centres in Albuquerque, NM and Amarillo will commence operation later this week as Rugby Architectural Building Products.

Rugby IPD is primarily engaged in the supply of architectural wood products, decorative surfacing, doors and millwork.

Paper and packaging products manufacturer Grupo Gondi has acquired Aluprint Plegadizos de R.L. from Constantia Flexibles Group.

The acquisition is expected to be completed once anti-trust approval is received from the Mexican authorities.

Based in Mexico, Aluprint Plegadizos S. de R.L. manufactures folding cartons and high-graphics micro-corrugated boxes.

Constantia Flexibles Group produces Austrian flexible packaging products and labels.