Abstract:
In this proposed transaction, AC Logistics entered into an Investment Agreement with Air21 Holdings, its owner, Mr. Alberto D. Lina, and eight (8) logistics companies in the network.
Subject to certain conditions, the intended acquisition by AC Logistics will result in at least 60-percent stake in Air 21 Holdings, which in turn, will control (i) Airfreight 2100, Inc., (ii) Air 2100, Inc., (iii) LGC Logistics, Inc., (iv) Cargohaus, Inc., (v) U-Freight Phils., Inc., (vi) U-Ocean, Inc., (vii) Waste & Resources Management, Inc., and (viii) Integrated Waste Management, Inc.
AC Logistics is the logistics arm of Ayala Corporation, while Air21 Holdings has a logistics network offering door-to-door service deliveries, international and domestic freight forwarding, and warehousing and waste logistics management.
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