NEW YORK, NY--(Marketwired - July 20, 2016) - PHI Group (www.phiglobal.com) (OTCQB: PHIL), a company engaged in both conventional energy and renewables, announced today that it has partnered with Milost Global Inc. to turbocharge inorganic growth.
Milost Global Inc., an Alabama-based private equity firm and parent company to PHI's newly appointed advisor, will be working hand in hand with PHI in the acquisition of cash-flow positive companies that generate between $100 million to $5 billion in annual revenues.
The two parties have agreed to form a Special Purpose Entity (SPE), which will be owned, controlled and managed equally by PHI and Milost Global Inc. This is the entity through which these envisaged buyouts will be carried out. Subsequently, subsidiaries will be formed in closing each buyout to house relative investments in their respectful structures.
The partnership buyout vehicle seeks to acquire publicly traded companies in North America, South Africa, New Zealand, Australia, Germany, Singapore and the UK. It will be industry agnostic focusing only on total buyouts in primarily going-private transactions. The goal will be to enhance shareholder value, distributing dividends within 24 months. We have already begun investigating a number of opportunities in the U.S. and abroad for immediate acquisition.
"We are delighted to work with the Milost team to capitalize on our combined strengths, capabilities and determination to execute a robust M&A strategy aimed at creating significant, sustainable value for our shareholders and all other stakeholders," said Henry Fahman, Chairman of PHI.
Dr. Ronald (Ron) Spratt, CEO of Milost Global Inc., said, "We look for partners who share our vision and commitment. With PHI Group as our partner, our footprint enlarges to give us greater access to global buyout opportunities."
About Milost Global Inc.
Milost Global Inc. is an American multinational private equity firm, specializing in leveraged buyouts, headquartered in Birmingham, Alabama.
Milost combines capital with the considerable experience of its senior managers, consisting of leaders who have themselves successfully built many companies. Their expertise and experience is brought to bear on every buyout opportunity.
About PHI Group, Inc.
PHI Group, Inc., a U.S. publicly traded company established in 1982, is in the process of acquiring controlling interests in a number of targets in the areas of conventional energy, renewables and special situations with intention to build a critical mass and uplist to the Nasdaq Stock Market as soon as practical.
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