HOLDING firm Alterra Capital Partners Inc., subject of backdoor-listing speculation in recent months, has been acquired by a group keen on putting up a genomics business process outsourcing (BPO) hub.
In a disclosure to the Philippine Stock Exchange on Monday, Alterra disclosed that its principal shareholders have agreed to sell around 67 percent of the company to Genomics Inc. and Hector Thomas Navasero for P362.32 million.
“We understand that the buyers plan to construct a genomics BPO hub,” the disclosure said.
Genomics is the study of the entire set of genes found in living things, including humans, plants, animals and even viruses. Experts in genomics strive to determine complete DNA sequences and perform genetic mapping to help understand disease.
The selling shareholders are Conrado Rafael Alcantara, Alfonso Anggala and Star Alliance Securities Corp.
Shares of Alterra tumbled by 9.92 percent to close at P5.35 on Monday as investors sold on news of the takeover deal. This have the company a market capitalization of P1.85 billion.