Commission Decision No. 02-M-041-2019:
Proposed Acquisition by Fernwood Holdings, Inc. of Shares in Liquigaz Philippines Corporation
The proposed transaction pertains to the acquisition by Fernwood Holdings, Inc. (“Fernwood”), a Philippine holding company, of the following shares of stock held by Canaria Holdings Corporation (“Canaria”) in the following corporations:
- Eight Hundred Twenty-Six Thousand Five Hundred Thirty (826,530) common shares of the capital stock of Liquigaz Philippines Corp. (“LPC”), representing all of the issued and outstanding capital stock of LPC.
- Thirty-Six Thousand Seventy-Five (36,075) common shares of the capital stock of Calor Phils. Holdings, Inc. (“CPHI”), representing sixty percent (60%) of the issued and outstanding capital stock of CPHI.
Upon completion of the acquisition, Fernwood intends to have effective control of the entire liquefied petroleum gas business of LPC.