Robinsons Retail to acquire 4.4% stake in BPI

Photo from: CNN Philippines

By CNN Philippines

Robinsons Retail Holdings Inc. (RRHI) has confirmed that it will acquire a 4.4% stake in the Bank of the Philippine Islands (BPI).

“On January 5, 2023, Robinsons Retail’s Board of Directors has approved the purchase of the 4.4% effective equity interest of Arran Investment Pte. Ltd. (‘Arran’) (an affiliate of GIC Private Limited ‘GIC’) in the Bank of the Philippine Islands (‘BPI’),” RRHI said Friday. “Through Redeemable Preferred Shares (‘Preferred Shares’), GIC via Arran currently owns 21.9% of Liontide Holdings, Inc. (‘Liontide’), which in turn has a 20.0% equity interest in BPI.”

RRHI said the merger would allow them to cross-sell products to BPI’s customer base while also allowing RRHI suppliers access to BPI’s financial products in order to fund their own capital requirements.

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