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Jun 11, 2018 @ 21:24

Dennis Uy completes H2O Ventures takeover, assumes chairmanship

 

Davao-based businessman Dennis Uy has been named chairman of H20 Ventures, the company told the stock exchange.

This after Uy’s privately-held holding firm Udenna Corp completed its acquisition of a 62 percent stake in H20 Ventures from the group of nightclub king Jolly Ting.

Raymundo Martin Escalona was named president of the company.

H2O is seen to be a backdoor listing vehicle for Uy’s property businesses.

Uy, through Udenna Development Corp, owns the $341million Lapu-Lapu Leisure Mactan project, a casino resort that will rise on a 12.5 hectare property in Cebu.

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