Chiongbian eyes reacquiring FAST full ownership

The Chiongbian family is moving swiftly to take full control of FAST Logistics Group, adding its current 60 percent share.

In a statement, FAST announced that its 60 percent controlling shareholder, the Chiongbian family, through its designated acquisition vehicle, has entered into definitive agreements to acquire the 40 percent stake in the Company currently held by a subsidiary of CVC Capital Partners Asia Pacific IV, a fund managed by CVC Capital Partners.

The acquisition will restore the Family’s full ownership of one of the Philippines’ leading third-party logistics and integrated supply chain service providers, subject to regulatory approval and completion of the transaction.

The transaction marks an important milestone in FAST’s evolution and reflects the Chiongbian family’s continued confidence in the long-term growth prospects of the Philippine logistics sector and the Company’s leadership position within it.

Since partnering with CVC, FAST has significantly strengthened its platform, expanded its nationwide capabilities, enhanced operational efficiencies, and deepened relationships with leading multinational and domestic customers.

FAST has also continued to invest in technology, warehousing, transportation, and end-to-end supply-chain solutions to support the rapidly evolving needs of the Philippine market.

William B. Chiongbian II, group president of FAST, said: “We are grateful for the partnership and support provided by CVC over the past several years. Their contribution helped accelerate our growth, strengthen our organization, and position FAST for its next chapter. As we move toward full family ownership upon completion of the transaction, we remain committed to investing in our people, customers, and capabilities while pursuing sustainable long-term growth.”