Chiongbian family completes full takeover of FAST Logistics Group

The Chiongbian family, through WLC Holdings Inc., has completed the reacquisition of the remaining 40% stake in FAST Logistics Group from CVC Capital Partners’ Asia Seal Pte Limited. This move returns the integrated logistics and supply chain solutions provider to full family ownership.

FAST Group president William Chiongbian II stated that full ownership provides the flexibility to take a long-term view and invest with greater conviction in the future of Philippine logistics. The company plans to focus on strengthening its nationwide platform, investing in logistics infrastructure, technology, automation, and building a more sustainable network.

Additionally, the company identified opportunities to enhance food and agricultural supply chains to improve product movement from production sources to consumers. While the transaction value was not disclosed, CVC had previously invested 6 billion pesos for a 40% stake in 2020. The acquisition was supported by a loan from BDO Unibank Inc., with AlphaPrimus Advisors serving as the financial adviser.