Infrastructure giant Metro Pacific Investments Corp. (MPIC) of Bilyonaryo Manuel V. Pangilinan has completed its venture into the logistics and distribution business with an initial investment of P2.17 billion. MPIC?s MetroPac Movers Inc. (MMI) completed the purchase of the businesses and assets of Basic Logistics Corp., A1Move Inc., Philflash Logistics Inc. as well as BasicLog Trading and Marketing Enterprises. After the completion of the transaction, the previous owners of the companies would establish a separate company to acquire a 24 percent stake in MMI that would be 76 percent controlled by MPIC. The transaction was carried out through an asset purchase agreement involving the sale by the sellers of identified logistics assets and the novation of certain key contracts of the sellers with their respective clients.