Cerberus to buy Philippine shipyard at former US navy base for $300m

Cerberus to buy Philippine shipyard at former US navy base for $300m

Photo by Andrea Natali on Unsplash

U.S. private equity firm Cerberus will acquire for $300 million a debt-laden shipyard in the Philippines at a former U.S. navy base close to the South China Sea, the facility’s trustee and two sources with knowledge of the deal said on Tuesday.