F&J acquires 30% of BPO Int’l

Publicly-listed investment holding firm F&J Prince Holdings Corp. is expanding its investment in the outsourcing business with the planned acquisition of 30 percent of BPO International Inc.

In a disclosure to the Philippine Stock Exchange, F&J said its president, Robert Y. Cokeng, signed Monday an agreement that will allow the company and other firms – Project Quest Corp., Stancrest Realty Corp. – and other individual investors to acquire 100 percent of BPO International.

F&J’s investment in BPO International is on top of its existing interest in Pointwest Technologies Inc.

F&J was originally in the business of mining, including mineral and oil exploration but changed its focus to that of a holding company in 1997.

F&J, Project Quest Corp. and Pointwest have formed a joint venture company to provide software servicing,maintenance and development for clients here and abroad. Under the joint venture, F&J will take up a 30-percent stake in the new company, another 30 percent will be subscribed by Project Quest and the remaining 40 percent will be controlled by Pointwest. – Zinnia dela Peña