Commission Decision No. 39-M-044/2017
Acquisition by Diamond Leaf Investment Limited of Shares in Ondarea, Inc.
The proposed transaction involves the acquisition by Diamond Leaf Investment Limited (“Diamond”) of 50.78% interest in Ondarea, Inc. (“Ondarea”) in exchange for Heritage Global Limited’s (“Heritage”) share in ADP Pharma Corp. (“ADP”).
Following the proposed transaction, Diamond will wholly-own Ondarea, ADP, and Seville Pharmaceuticals, Inc., while Heritage, through its Philippine subsidiary which will be incorporated, will own Pascual Pharma Corp. (“PPC”).
ADP, PPC, and Seville are engaged in the distribution and sale of pharmaceutical products in the Philippines.