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Jan 3, 2018 @ 18:02

Dennis Uy keen to increase stake in 2Go to 40%


Chelsea Logistics Holdings Corp. is looking to raise its equity investment in shipping and logistics firm 2Go Group Inc. to 40 percent by acquiring more shares from minority stockholders.

CLC president and CEO Chryss Alfonsus Damuy said they had already sought the approval of the Philippine Competition Commission to acquire additional shares from small investors to boost its current stake of 28.15 percent.

“Once we get the PCC’s nod, we will proceed with the tender offer,” Damuy said.

Chelsea forms part of businessman Dennis Uy’s holding firm Udenna Corp., which owns Phoenix Petroleum Holdings.

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