Dennis Uy completes H2O Ventures takeover, assumes chairmanship
Davao-based businessman Dennis Uy has been named chairman of H20 Ventures, the company told the stock exchange.
This after Uy’s privately-held holding firm Udenna Corp completed its acquisition of a 62 percent stake in H20 Ventures from the group of nightclub king Jolly Ting.
Raymundo Martin Escalona was named president of the company.
H2O is seen to be a backdoor listing vehicle for Uy’s property businesses.
Uy, through Udenna Development Corp, owns the $341million Lapu-Lapu Leisure Mactan project, a casino resort that will rise on a 12.5 hectare property in Cebu.