Robinsons Retail Holdings Inc. of the Gokongwei group is set to purchase a minority stake in Bank of the Philippine Islands. Know more:
ROBINSONS Retail Holdings Inc. of the Gokongwei group is set to purchase a minority stake in Bank of the Philippine Islands.
Through redeemable preferred shares Arran currently owns 21.9 percent of Liontide Holdings Inc., which in turn has a 20-percent equity interest in BPI. “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. We expect to generate more value by combining BPI’s premium banking ecosystem with the consumer-oriented ecosystem of Robinsons Retail, complemented further by our digital businesses,” Robinsons Retail President and CEO Robina Gokongwei-Pe said.
Robinsons Retail will also receive a steady stream of dividends from the country’s third-largest lender in terms of assets.
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