Deal subject to Frontier Capital’s shareholders approval
ASX-listed Frontier Capital acquires casino in Clark
Frontier Capital Group Limited received an approval by President Aquino for the Passenger Terminal expansion project at Clark International Airport (CIA).
2015-11-11
Reading time 25 seg
Frontier Capital Group Limited received an approval by President Aquino for the Passenger Terminal expansion project at Clark International Airport (CIA).
The deal is still subject to the approval of Frontier Capital’s shareholders, said the filing, adding that the target date for its completion is January 2016.
The national government has approved a PHP15 Billion (Philippine Pesos) (AU$450M) expansion that is expected to double the number of passengers annually to 8 million.
The firm believes the expansion will result in a direct increase of patrons frequenting the Stotsensberg Hotel and Casino, with the increased passengers through the airport terminal and its close proximity of just 1.6km.
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