Philippine Billionaire Ramon Ang Buys Stake In Lopez Family’s Energy, Media Group
Billionaire Ramon Ang—the controlling shareholder of Philippine infrastructure and brewery giant San Miguel—has in his personal capacity acquired a quarter of Lopez Inc., a private holding company that has interests in energy, media and real estate.Ang, who is chairman and CEO of San Miguel, acquired 25.7% of Lopez Inc. from one of the branches of the family, the tycoon and Eugenio Lopez III said in a joint statement, without giving the value of the transaction.The Lopez family’s business empire includes energy venture First Philippine Holdings, property developer Rockwell Land and ABS-CBN Broadcasting, once a Philippine media giant. First Gen, a key asset of First Philippine Holdings, owns the nation’s largest producer of geothermal energy Energy Development Corp.One of the oldest Philippine business........
