MANILA (XFN-ASIA) - Metro Pacific Corp said it is negotiating with several groups interested in investing in its shipping subsidiary, Negros Navigation Co (Nenaco).
The company revealed this in a disclosure to the Philippine Stock Exchange, which was issued in reaction to an article in a newspaper (not the Manila Bulletin) that said several domestic and foreign investors may buy into Nenaco to finance the shipping line's $ 10-million re-fleeting.
Metro Pacific said the discussions were preliminary, and gave no details in its disclosure.
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