MANILA - JG Summit Holdings on Tuesday said it has signed a deal with Filinvest Development Corp, Philippine Airport Ground Support Solutions and Changi Airports Philippines defining ownership interest in the Luzon International Premier Airport Development Corp.
The firms signed a shareholders' agreement on June 7 which stated that JG Summit Holdings will hold a 33-percent stake in LIPAD, FDC with 42.5 percent, CAP with 15 percent and PAGSS with 9.5 percent, JG Summit Holdings said in a disclosure to the stock exchange.LIPAD is a special purpose vehicle incorporated by the North Luzon Consortium, made up of the above-mentioned firms, for the management, operations and maintenance of Clark International Airport.
"We would like to inform you that on 7 June 2021, Filinvest Development Corporation signed a Shareholders’ Agreement with JG Summit Holdings Inc. , Philippine Airport Ground Support Solutions Inc. , and Changi Airports Philippines Pte. Ltd. in connection with their ownership interest in Luzon International Premiere Airport Development Corp. ," the statement said.
In 2019, LIPAD Corp received a formal notice from the government to operate and maintain the Clark International Airport.
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