By El Amigo
MANILA, Philippines — A major shift in the ownership structure of Lopez Inc. is underway after tycoon Ramon S. Ang acquired a 25.7-percent interest from the family branch of Eugenio “Gabby” Lopez III, with the seller saying the deal could help bring an end to a bitter family dispute.
The transaction was completed through Creme Investment Corp., the holding company used by Lopez’s family branch for its stake in Lopez Inc.
Lopez confirmed the sale in a statement Monday but did not reveal how much Ang paid for the shares.
Ang, who made the investment through his wholly owned holding company and in his personal capacity, also confirmed the acquisition.
“Yes, Gabby’s shares,” Ang said when asked whether he had bought Lopez’s stake.
But beyond its financial implications, Lopez portrayed the transaction as a step toward repairing strained family relations.
For Lopez, putting the family dispute behind them was a major reason for relinquishing the shares.
“The first is my family,” Lopez said, adding that the conflict had taken a toll not only on family members but also on employees working for companies connected to them.
He said the sale could help create the conditions for a reconciliation.
“This dispute has not been good for any of us, or for the people who work in our companies. This allows us to take a step towards the restoration of family peace,” Lopez said.
The former shareholder also indicated that the proceeds from the transaction would give his family branch greater flexibility to pursue businesses consistent with what he described as their “personal mission.”
He did not provide further details, saying these would be disclosed in due course.
Ang enters without taking control
Ang’s acquisition gives him a substantial minority position in Lopez Inc., but he made clear that the transaction does not amount to a takeover of the Lopez business empire.
The Lopez family branches that retain the controlling majority will continue to direct the company, according to Ang.
“I came in because I believe in these businesses, and because a steady partner at the table can be good for everyone around it,” Ang said.
He stressed that his objective was to help strengthen the group rather than alter its family-led control.
“The family branches that continue to hold the controlling majority of Lopez, Inc., will continue to lead it. My interest is that the group comes out of this stronger,” Ang said.
Lopez likewise expressed confidence in Ang’s participation, pointing to the longstanding ties between their families.
The deal therefore represents a significant change in the shareholder composition of Lopez Inc. without transferring control away from the Lopez family.
For Ang, the investment expands his footprint into another major Philippine business group. For Lopez, the sale offers an avenue to settle a family disagreement while freeing capital for ventures that he said are more closely aligned with his branch’s future priorities.
The transaction could consequently reshape the dynamics inside Lopez Inc. while opening a new chapter in the relationship between the Lopez family and one of the country’s most influential business leaders.
elamigo/xf
