A Philippines watchdog has voided another takeover completed by Dennis Uy's Chelsea Logistics Corp (CLC).
CLC bought Trans-Asia Shipping Lines, and its fleet of 16 ships including container vessels, ro-paxes and a general cargoship, in 2016.
But the Philippine Competition Commission (PCC) has invalidated the deal after it said CLC failed to notify it. CLC was also fined PHP 22.8m
