House of Investments signs cooperation deal with pharma firm

MANILA, Philippines – Yuchengco-led House of Investments Inc. (HI) is exploring new opportunities with Philippine Pharma Procurement Inc. (PPPI) after signing a memorandum of cooperation.

In a disclosure to the stock exchange on Tuesday, HI said its subsidiary Tarlac Terra Ventures Inc. (TTVI) entered into the agreement with PPPI on June 15.

READ: Aboitiz, House of Investments expand Tarlac estate with new JV

Article continues after this advertisement

Under the MOC, both expressed intention to explore potential areas of cooperation and assess PPPI’s possible participation in businesses operated by HI or its affiliates.

FEATURED STORIES

BUSINESS

BUSINESS

BUSINESS

The agreement covers HI’s existing business areas and other opportunities in the Philippines that the parties may jointly identify in the future.

“Potential cooperation may include business fields in which HI is currently engaged as well as other areas in the Philippines the parties may mutually identify,” the company said.

The disclosure did not specify any particular projects, investment commitments or timelines arising from the cooperation agreement. Both also did not disclose which sectors they may prioritize under the partnership.

The latest move comes as HI continues to expand and diversify its investment portfolio through its subsidiaries and affiliates.

Article continues after this advertisement

HI has positioned TTVI, the unit that signed the agreement, as one of its platforms for pursuing new business ventures.

READ: Aboitiz, Yuchengco ink 184-ha property venture in Tarlac

Article continues after this advertisement

HI said the MOC reflects the companies’ mutual intention to explore business opportunities and determine where collaboration may be beneficial.

The listed holding firm did not disclose the financial terms of the agreement, noting only that the partnership framework would allow both parties to consider PPPI’s participation in existing or future businesses operated by HI and its affiliates.

Your subscription could not be saved. Please try again.

Your subscription has been successful.

Both will disclose further details once they identify and formalize specific projects or investment initiatives. /pai INQ