{"id":112817,"date":"2017-08-18T02:36:06","date_gmt":"2017-08-18T06:36:06","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=112817"},"modified":"2017-08-18T02:36:06","modified_gmt":"2017-08-18T06:36:06","slug":"calata-selling-81-stake-to-millennium-global","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/08\/18\/calata-selling-81-stake-to-millennium-global\/","title":{"rendered":"Calata selling 81% stake to Millennium Global"},"content":{"rendered":"<figure id=\"attachment_112821\" aria-describedby=\"caption-attachment-112821\" style=\"width: 336px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/08\/calatalogo.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-112821\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/08\/calatalogo.png\" alt=\"The post-acquisition will make Calata to a private company (Photo: Calata Corporation)\" width=\"336\" height=\"176\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/08\/calatalogo.png 336w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/08\/calatalogo-300x157.png 300w\" sizes=\"auto, (max-width: 336px) 100vw, 336px\" \/><\/a><figcaption id=\"caption-attachment-112821\" class=\"wp-caption-text\">The post-acquisition will make Calata to a private company (<a href=\"http:\/\/www.calatacorp.com\/index.php\">Photo: Calata Corporation<\/a>)<\/figcaption><\/figure>\n<p>MANILA &#8212; Calata Corp. is selling its 81 percent stake to Millennial Global Holdings, Inc. through subscription to its 2.5 billion shares.<\/p>\n<p>In a disclosure with the Philippine Stock Exchange (PSE) Thursday, Calata said it is also transferring all its assets and liabilities to Agriphil Corp. and\/or a private company.<\/p>\n<p>\u201cThe transaction intends to transfer the existing agribusiness of Calata Corporation to Agriphil Corporation, a private entity or such other private entity,\u201d Calata said.<\/p>\n<p>Last month, PSE initiated an involuntary delisting for Calata because of its numerous violations on disclosure rules.<\/p>\n<p>Moreover, Calata plans to purchase Millennium Global\u2019s seafood business Millennium Ocean Star Corp. (MOSC).<\/p>\n<p>Calata said the transaction will enable to use \u201cthe listed entity in further enhancing its business and fortifying its place as one of the top seafood distributors in the local and international market\u201d and \u201cto provide sufficient and underlying value over shares held by existing shareholders\u201d.<\/p>\n<p>The post-acquisition will make Calata to a private company from being a publicly listed firm.<\/p>\n<p>MOSC trades almost all known seafood and aquaculture products in the country.<\/p>\n<p>It exports an average of 1,500 metric tons (MT) of black tiger shrimps annually and 3,000 MT of seafood like squid, cuttlefish, octopus, and coral reef fishes, among many others.<\/p>\n<p>Its export markets include Japan, Korea, Taiwan, China, Hong Kong, Europe, Canada, and United States.<\/p>\n<p>On the other hand, MOSC imports about 2,000 MT monthly of frozen mackerel, fish fillets, giant squid, ilex squid, and other seafood products from Puerto Rico, Dominican Republic, France and the West Indies, Germany, Spain, Portugal, Guam, United Kingdom, Sweden, Belgium, Italy, and Sweden.<\/p>\n<p>Seafood products imported from these markets were distributed to local firms such as Robinsons Supermarkets, S&amp;R Price Club, Makro Philippines, Landmark, Puregold, Big R, Shopwise, SM Supermarket, SM Hypermarket, and other hotels, restaurants, and catering services companies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA &#8212; Calata Corp. is selling its 81 percent stake to Millennial Global Holdings, Inc. through subscription to its 2.5 &hellip;<\/p>\n","protected":false},"author":33,"featured_media":112821,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-112817","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-kris-crismundo","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/112817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=112817"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/112817\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/112821"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=112817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=112817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=112817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}