Dennis Uy takes over Clark logistics hub | Inquirer Business

Dennis Uy takes over Clark logistics hub

PCC oks acquisition
By: - Business Features Editor / @philbizwatcher
/ 12:01 PM October 20, 2017

Dennis Uy

Davao-based businessman Dennis Uy has finalized a deal to acquire a company developing a $1-billion 177-hectare logistics hub called Global Gateway Logistics City in Clark City.

The deal has been approved by the Philippine Competition Commission (PCC), the country’s anti-trust body which is mandated under the Philippine Competition Act to review mergers and acquisitions to ensure that these deals will not prejudice the interest of the consumers.

Article continues after this advertisement

The PCC, which is mandated to review deals related to Philippine assets valued at P1 billion, announced approval of the acquisition on Thursday night.

Clark Global City Corp., an affiliate of Uy’s holding firm Udenna Corp., acquired the entire capital stock of GGDC Holdings, the majority shareholder of Global Gateway Development Corp. based in Cayman Islands which owns the leasehold rights to the land where Global Gateway Logistics City is located.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: Dennis Uy, Global Gateway Logistics City, PCC, Udenna Corp.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.