AUSTRALIA/PHILIPPINES: Metcash to form JV with Suy Sing Commercial
Australian grocery and alcohol wholesaler Metcash Trading has announced its plans to form a joint venture agreement with Suy Sing Commercial, a distributor and wholesaler in the Philippines. Metcash is likely to invest A$73m (US$39.7m) in a 65% stake in the venture. Suy Sing Commercial has four distribution centres in Manila which have annual revenue of approximately $400m.
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