SM Investments Corporation (PSE:SM) signed an agreement to acquire an additional 22.36% stake in 2GO Group, Inc. (PSE:2GO) from Chelsea Logistics and Infrastructure Holdings Corp. (PSE:C) for PHP 4.6 billion on March 18, 2021. Shares will be acquired at PHP 8.5 per share. Post completion, Chelsea Logistics and Infrastructure Holdings Corp. will hold no stake in 2GO Group, Inc. In a related transaction, SM Investments Corporation also intends to conduct a tender offer for all the remaining shares of 2GO Group, Inc. at an offer price of PHP 8.5 per share. The Board of Directors of SM Investments Corporation has approved the transaction. Chelsea Logistics and Infrastructure Holdings Corp. will use the proceeds of the sale to pay down the loan obtained for the acquisition of the shares. Completion will take place in next three months. As of April 22, 2021, the deal is expected to be completed by second quarter of 2021.