Fruit juice drinks firm buys Philippines’ Maybank ATR Kim Eng

Mazy’s Capital, Inc. takes 89.8% share in investment house.

Mazy’s Capital is owned by a group of companies whose flagship units are fruit juice drinks maker Zest-O Corporation and budget airline, Zest Air. It will acquire 89.8% of Maybank ATR Kim Eng Financial Corporation for US$74 million. Maybank ATR Kim Eng said its controlling stockholder, Maybank Kim Eng Holdings Ltd,. had agreed to sell 958.9 million of its shares in Maybank ATR Kim Eng at P3.3298 per share.

All the assets of Maybank ATR Kim Eng will be consolidated into Maybank ATR Capital Partners Inc. that will assume all the liabilities of the company. The assets to be transferred include the listed company’s stake in subsidiaries AsianLife and General Assurance Corp. and ATR Kim Eng Land Inc.