Lopez Inc. (LI) president Federico “Piki” R. Lopez welcomed businessman Ramon S. Ang as he confirmed the latter’s acquisition of the 25.7-percent stake in Lopez Inc. from Eugenio “Gabby” Lopez III’s family branch.
“We welcome Mr. Ramon Ang to Lopez Inc. with deep appreciation. We have been friends for a long time and so I do look forward to working together with him,” Piki said in a statement.
Ang is the Chairman and CEO of San Miguel Corporation (SMC), steering the massive Philippine conglomerate into expansive sectors like infrastructure, heavy industry, power, and transport networks.
“We recognize the value that Ramon brings to LI with his proven expertise and extensive experience. The Lopez family’s entry into this partnership with him is truly a welcome development and in line with our history of partnering with recognized individuals and institutions to promote the growth of our businesses,” he added.
“It’s a great step toward resolving issues that have affected our family as well as our businesses and can only be good for everyone,” Piki further stated.
Creme Investment Corp., the holding company through which his Gabby’s family branch owns the stake, had completed the sale to Ang. There was no mention of the amount involved in the transaction.
Ang’s acquisition of Gabby’s branch’s stake in LI is expected to end the feud among the Lopez cousins.
