Radio Philippines Network
Business News

FDC to pursue M&A deals this year

Gotianun-led Filinvest Development Corp. (FDC) said it is keen on pursuing merger and acquisition (M&A) deals this year as the company has enough money to spend on its units.

“We are in pursuit of like-minded partnerships that will bolster our financial muscle, deepen our management bench, and widen our technological expertise,” FDC president and CEO L. Josephine Gotianun-Yap said.

In September last year, the company raised some $200 million from fixed-rate 5-year bonds, which Yap said provided the company with enough war chest “to pursue these exciting opportunities.”

“We have already built an arsenal of investments across our businesses to give us solid footing for future growth. We want to leverage on our strong foundation, our organization, and franchise, building scale to provide more employment through our ecosystem in key industries that are crucial to economic growth.”

Yap said the company is spending some P21.2 billion in capital expenditures this year.

About a quarter of its investments will be for new ventures, including the eco-sustainable space, while the balance is for the real estate business.

“It is worth noting that times of crisis are also times of opportunity for strong, forward-thinking companies. We know fully well that the path to recovery will be challenging and volatile, but we are also convinced that we have the right elements in place to come out stronger as we move forward in anticipation of the future,” Yap said.

For this year, the company said its investments and growth strategies will be aligned with the UN Sustainable Development Goals.

“First is to build scale and leverage on our strong foundation. Second is to build an eco-sustainable platform. Third is to forge partnerships with shared vision and values. And last is to embrace digital transformation and prepare for digital disruption,” Yap said.

“As we bring FDC to new heights with these strategies, we recognize our ability to do well in business while doing good for society. Our strategies are made more meaningful as we help achieve certain sustainable development goals—gender equality, decent work and economic growth, sustainable cities and communities, clean water and sanitation, industry, innovation and infrastructure, and partnerships for the goals,” FDC Chairman Jonathan T. Gotianun said.

Read full article on BusinessMirror

Related posts

Aboitiz sets up data unit in Singapore

BusinessMirror

Net Asset Value Per Share (NAVPS) Performance (as of May 04, 2021)

BusinessMirror

Security Bank, MUFG deal ‘credit positive’—Moody’s

BusinessMirror