FAST Logistics Group has returned to full Chiongbian family ownership after WLC Holdings Inc. completed its acquisition of the remaining 40-percent stake held by Asia Seal Pte. Ltd., clearing the way for new investments in infrastructure, technology, and supply-chain expansion.
The stake was previously held by Asia Seal, which is majority owned by a fund managed by CVC Capital Partners. Financial terms were not disclosed.
The transaction follows definitive agreements announced in June and the satisfaction of regulatory approvals and other closing conditions.
FAST said full family ownership will allow the group to consolidate gains from its six-year partnership with CVC while selectively investing in logistics infrastructure, automation, technology, and a more sustainable nationwide network.
The company also sees opportunities to strengthen food and agricultural supply chains by improving the movement of products from production areas to markets and consumers.
“We return to full family ownership as a stronger organization than when the partnership began, with greater capability, resilience, and ambition for the next phase of FAST’s journey,” FAST Group President William B. Chiongbian II said.
CVC invested in FAST in 2020, helping the company expand its warehousing, transportation, and distribution network while strengthening operations and investing in technology and systems.
Chiongbian said full ownership gives FAST greater flexibility to “take a long-term view” and invest with greater focus in Philippine logistics.
The acquisition was backed by a financing facility from BDO Unibank Inc., which served as sole lender. AlphaPrimus Advisors acted as financial adviser, while Romulo Mabanta Buenaventura Sayoc & De Los Angeles served as legal counsel.
With ownership back in family hands, FAST said it is positioned to pursue its next phase of growth with a longer-term focus on building logistics capacity and supporting the country’s increasingly complex supply chains.
