First Pacific chooses Roxas as Philippines’ sugar and ethanol winner

In the Philippines, following the divestment of its minority stake in Vitorias Milling, First Pacific will reinvest those funds in further developing Roxas’ ethanol and sugar production. Last week, Roxas announced an upcoming rights issue where First Pacific plans to focus the more than $45 million it liquidated from Vitorias. First Pacific bought into Roxas in 2013 and later expanded its participation to a majority holding in 2015, while its participation in Vitorias was short-lived, from 2014 until now.