CVC Capital Partners completed the acquisition of a 40% stake in Fast Group for $124m.

CVC Capital Partners completed the acquisition of a 40% stake in Fast Group, an end-to-end logistics group in the Philippines, for $124m. "Fast is the market leader in the growing Philippine logistics sector, our clients greatly value our broad offering which spans the entire supply chain from logistics and warehousing, to distribution and transportation. The investment in Fast by CVC is a testament to the attractiveness and potential of the Philippine logistics sector, the market leading business we have built over the last four decades, and of course the economy more broadly. We are delighted to be partnering with such an experienced investor as we now seek to accelerate our growth," William Chiongbian, Fast Group President and CEO.