Metro Pacific Investments Corp. acquires a 35% stake in Axelum Resources Corp. for PHP 5.3 billion, aiming to strengthen its international business and support local coconut farmers.

Target Information

Metro Pacific Investments Corp. (MPIC) has made a significant move by acquiring a 35% stake in Axelum Resources Corp., a prominent exporter of coconut products, for PHP 5.3 billion. This acquisition is facilitated through MPIC's wholly-owned subsidiary, Metro Pacific Agro Ventures Inc. (MPAV). The strategic intention behind this investment is to enhance Axelum's international operations while also nurturing the domestic market, thus supporting local coconut farmers in the Philippines.

Industry Overview in the Philippines

The agriculture sector in the Philippines has been witnessing notable activity in recent months, particularly with increasing investments aimed at bolstering the agricultural landscape. The recent acquisition by MPIC could stimulate growth not only for Axelum but also for the entire coconut industry, which has been experiencing fluctuating demands globally. Additionally, the Philippine agriculture sector is increasingly recognizing the importance of sustainable farming practices to meet both local and international standards.

Furthermore, the country's agriculture sector is essential for its overall economy, as it employs a significant portion of the population. With the rising trend towards organic and sustainable products, there is immens