Ramon Ang buys 25.7% stake in Lopez Inc.

MANILA, Philippines — Tycoon Ramon S. Ang has acquired a 25.7-percent stake in Lopez Inc. from Eugenio “Gabby” Lopez III’s family branch, as the latter seeks to put a family dispute behind him.In a statement on Monday, Lopez said Creme Investment Corp., the holding company through which his branch owns the stake, had completed the sale to Ang.

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Moreover, Ang made the investment in his personal capacity through his wholly owned holding company. The statement did not disclose the value of the transaction.

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Likewise, Ang confirmed the investment to the Inquirer in a text message. Asked whether he had acquired the stake, Ang replied: “Yes, Gabby’s shares.”

Lopez said the family dispute partly drove the sale, as they sought to restore peace within the family.“The first is my family,” Lopez said. “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.”

Meanwhile, Lopez said the transaction would also redirect family resources toward businesses aligned with its “personal mission,” with details to follow.

Still, He also expressed confidence in Ang as a partner to Lopez Inc., noting the longstanding relationship between their families.

For his part, Ang further stressed that the family branches retaining the controlling majority of Lopez Inc. would remain at the helm of the group.

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“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.

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“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,” he added. /pai