Commission Decision No. 27-M-035/2017:
Acquisition by Clark Global City Corporation of shares in GGDC Holdings

ABSTRACT

Clark Global City Corporation (CGCC), an affiliate of Udenna Corporation (Udenna), intends to acquire the entire outstanding capital stock of GGDC Holdings, a company incorporated in the Cayman Islands.

GGDC Holdings is the majority shareholder of Global Gateway Development Corporation, another Cayman Islands company, which holds leasehold rights to 177-hectare land within the Clark Civil Aviation Complex, Clark Freeport Zone, Pampanga, where the Global Gateway Logistics City is now located.

GGDC Holdings is currently wholly owned by The Port Fund L.P. while CGCC is wholly owned by Udenna Development Corporation (UDEVCO), a wholly owned subsidiary of Udenna.

See decision: http://phcc.gov.ph/commission-decision-no-27-m-0352017-acquisition-clark-global-city-corporation-shares-ggdc-holdings/