UDENNA Corp., effective parent and majority stockholder of Phoenix Petroleum Philippines Inc. (PNX), said over the weekend that it has completed its acquisition of a substantial stake in 2Go Group, a leading integrated transport solutions provider in the country.
Udenna made the acquisition through a company that indirectly holds a significant stake in domestic shipping line Negros Navigation Co., Inc. (NNC), which in turn is a major shareholder of the 2Go Group.
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