MANILA, Philipines — The LBC Express Holdings Inc. announced on Monday, November 4, 2019, it bought shares of stocks from Japanese shipping company Mermaid Co. Ltd. “Balikbayan Box.”

The logistics company purchased around $200,000 (P10.1 million) shares of Tsukasa Takashi, Mediatrix Takashi and Eiichi Gotoh in Mermaid Co Ltd. said LBC in a stock exchange disclosure.

There were no other details given

“The acquisition is expected to benefit the company by contributing to the global revenue stream of the company,” the statement said.

The deal is subject to approval from the regulator, said LBC. (Marian Andrei Sinamban/IAMIGO/CNS)