Millennium Global takes controlling stake in Philippine seafood explorer Millennium Ocean

January 13
3:31 AM 2014

On Monday, Millennium Global Holdings Inc announced that it picked up a 51% stake in Philippine-based seafood exporter Millennium Ocean Star Corp, according to GMA News.

Millennium Global told the Philippine Stock Exchange that it signed an agreement last Friday to acquire Millennium Ocean's primary common shares for PHP137.91 million.  The disclosure also said the said shares are valued at PHP1 apiece, the report detailed.

The Philippine exporter is majority owned by its chairman and president, Michael Yang. The company is mainly processes high quality seafood products for export to Japan, Hong Kong, Vietnam, Singapore, Taiwan, China, Malaysia, Europe, US, and Canada. The firm handles products such as Black Tiger Shrimps, frozen lobsters, and Kisu fillet. In the Philippines, the report explained.

Millennium Ocean also supplies seafood products to supermarkets, food processors, restaurants, hotels, and groceries in the Philippines. Its locally sold products include imported salmon, scallops, mackerel scad, and shrimps, GMA News reported.

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