Aboitizes sell shipping unit to rival Nenaco | The Philippine Star News Business

Aboitizes sell shipping unit to rival Nenaco
By Zinnia B. Dela Peña
After more than 100 years, the Cebu-based Aboitiz clan is exiting the shipping business with the sale of its entire stake in Aboitiz Transport System Corp. (ATS) to rival Negros Navigation Co. (Nenaco) for $81.1 million, a deal that will create the country’s biggest shipping company.| The Philippine Star News Business