Phoenix CEO completes acquisition of 2Go stake

ABS-CBN News

Posted at Sep 10 2016 04:25 PM

MANILA - Phoenix Petroleum president and CEO Dennis Uy has completed his acquisition of a 21-percent registered stake in logistics form 2Go Group Inc., according to a stock exchange filing.

Uy's holding company, Urdenna Corp., acquired KGL Investment B.V., which owns 40 percent of KGLI-NM Holdings, a 60-percent stakeholder in Negros Nevication Co. Inc., which owns 88.31 percent of 2Go, according to the statement.

Uy, through Urdenna, has a 32-percent beneficial interest in 2Go.

2Go closed 1.12 percent higher to P7.25 on Friday.