Robinsons Retail says to acquire 4.4 percent stake in BPI

ABS-CBN News

<p>MANILA — Robinsons Retail Holdings Inc said on Friday it plans to acquire 4.4 percent shares in the Bank of the Philippine Islands (BPI).</p><p>On Jan. 5, the board of directors approved the purchase of 4.4 percent effective equity interest of Arran Investment Pte Ltd in BPI, the Gokongwei-led firm told the stock exchange. </p><p>Arran is an affiliate of GIC Private Limited. GIC via Arran currently owns 21.9 percent of Liontide Holdings Inc, which in turn has a 20 percent equity interest in BPI.</p><p>RRHI said it would acquire preferred shares in Liontide which are redeemable to BPI shares equivalent to 1.1 percent while the remaining 3.3 percent would be purchased directly.</p><p>&quot;We envision Robinsons Retail to become a leading retailer with excellent financial products for customers and suppliers alike - and the partnership with BPI simply accelerates this aspiration,&quot; RRHI President and CEO Robina Gokongwei-Pe said. </p><p>&quot;We expect to generate more value by combining BPI&#x27;s premium banking ecosystem with the consumer-oriented ecosystem of Robinsons Retail, complemented further by our digital businesses,&quot; she added.</p><p>In September, BPI, JG Summit Capital Services Corp and Robinsons Retail approved the merger of BPI and Robinsons Bank Corp.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/09/30/22/bpi-to-merge-with-gokongwei-led-robinsons-bank">BPI announces planned merger with Gokongwei-led Robinsons Bank</a></li>	<li><a href="https://news.abs-cbn.com/business/12/15/22/bpi-approves-issuances-of-shares-to-robinsons-bank-shareholders">BPI approves issuances of shares to Robinsons Bank shareholders following merger</a></li>	<li><a href="https://news.abs-cbn.com/business/01/04/23/bpi-says-working-to-reverse-duplicate-transactions">BPI says &#x27;working to reverse&#x27; duplicate transactions</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/dcPwimFWQ4Y?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

Robinsons Retail Holdings Inc said on Friday it plans to acquire 4.4 percent shares in the Bank of the Philippine Islands. 

Robinsons Retail says to acquire 4.4 percent stake in BPI | ABS-CBN

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Robinsons Retail says to acquire 4.4 percent stake in BPI

Robinsons Retail says to acquire 4.4 percent stake in BPI

ABS-CBN News

Published Jan 06, 2023 12:15 PM PHT

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