The Udenna Group has received the most prestigious award for finance, treasury and the capital markets in Asia for its strategic acquisition of a controlling stake in 2GO Group, Inc.

Asset Publishing and Research Ltd. recognized the group’s acquisition of a 28.15% indirect economic interest in 2GO as the best merger and acquisition (M&A) deal in the Philippines in The Asset Triple A Country Awards 2017.

The Asset described Udenna’s acquisition into the publicly listed integrated transport solutions provider as a “strategic transaction that allowed the consortium to deepen their foothold in the shipping and logistics industry.”

Evercore – a premier independent investment banking advisory firm – served as the financial adviser of Udenna for the acquisition.

Founded in 1995, Evercore serves a prominent and diverse set of clients and investors, including leading multinational corporations, large institutional investors and financial sponsors, and high net worth individuals.

“2GO made for a dependable growth engine for our shipping and logistics operations under Chelsea Logistics Holdings Corp.,” said Atty. Adel A. Tamano, vice-president for corporate affairs at Udenna.

The deal came with 26 operating vessels that allow Chelsea Logistics to transport people to more locations as Philippine tourism booms. It also presented additional capacity to move cargoes throughout the supply chain while e-commerce gains momentum and trade opportunities abound in the region.

“At the same time, we saw the potential of 2GO in creating synergies with our oil and gas, real estate and hospitality businesses, among others,” Atty. Tamano said. “What made the acquisition more attractive was the opportunity it presented for the Udenna Group to help our economy continue moving forward.”

The Asset has recognized the best deals in Asia for 19 years now. Its annual Triple A recognition represents the industry’s most prestigious awards for banking, finance, treasury and the capital markets.

The publication, with the widest reach among Asian issuers and global institutional investors active in the region, gives weight to the views and comments of its readers in selecting awardees.

“We thank The Asset for recognizing the soundness of our acquisition that strategically allowed us to deepen our foray in shipping and logistics, an industry vital to the economic growth of an archipelago like the Philippines,” Atty. Tamano said.

The Udenna Group bagged the Best M&A Deal Award in The Asset Triple A Country Awards 2017. Founder and Chairman Dennis A. Uy, along with Udenna Director for Special Projects Raymundo Martin M. Escalona, Evercore Asia Chairman Stephen CuUnjieng and Evercore Asia Managing Director Nancy Valiente, accepted the recognition during the awards dinner at the Four Seasons Hotel in Hong Kong last January 17.