Alterra acquires P860m shares of Philab Industries

Alterra Capital Partners, a listed genomics business process outsourcing (BPO) firm, has announced that it acquired P860m worth of shares or 93.48% of the outstanding capital stock of Philab Industries. The acquisition was aimed at facilitating Philab’s backdoor listing on the Philippine Stock Exchange. Alterra first disclosed in mid-August the share purchase agreement that Philab President Hector Thomas Navasero and Genomics have signed with Conrado Alcantara and Alfonso Anggala along with Star Alliance. It then cited the new investors’ plans to construct a Genomics business process outsourcing hub as rationale for the transaction.