Atok-Big Wedge Co. Inc., a listed company owned by the group of former Trade minister Roberto Ongpin, acquired Tidemark Holdings Ltd., a Hong Kong company that owns 25.9 percent of Forum Energy Plc, an oil and gas firm controlled by Philex Mining Corp.
Atok-Big Wedge said in a disclosure to the stock exchange Tuesday it purchased 100 percent of Tidemark Holdings, which owns 8.646 million ordinary shares of Forum Energy Plc…..
Atok earlier spun off its mining assets to a wholly-owned subsidiary, Atok Gold. The mineral properties of Atok Gold are found in Baguio City.
Atok said in an annual stockholders’ meeting in May it planned to spend P1 billion in cash to acquire mining assets in the Philippines, Laos and Cambodia.