SM to exit mining, data center business

SM Investments Corp., the holding company of the SM Group, is mulling the disposal of its stake in listed Atlas Consolidated Mining and Development Corp.

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as it pursues its planned exit in the data center business."Right now our portfolio is actually very synergistic with each other, except perhaps the Atlas Mining. Mining is actually an outlier, because all the other businesses have a synergy with the entire group," SM Investments president and CEO Frederic DyBuncio said.

He said the potential sale of the group’s stake in Atlas Mining is something that would be discussed in the board level.

"But that's something which could happen in the near future," DyBuncio said.