ABG seeks approval for up to P6.7-B asset acquisitions

ASIABEST GROUP International, Inc. (ABG) will seek shareholder approval for the proposed acquisition of two operating companies worth up to P6.7 billion through share-for-asset transactions, according to a report by BusinessWorld.

The listed company said the acquisitions are part of its plan to transform into an infrastructure and property holding company. Shareholders will vote on the proposals during an upcoming meeting.

The move signals ABG's strategic shift toward infrastructure and property development, aiming to leverage assets in these sectors for future growth.