Insider Spotlight
Crème Investment Corp. represents the branch of the Lopez family led by Eugenio “Gabby” Lopez III.
In his press statement, Federico Lopez did not disclose the size of the stake acquired by Ang or the financial terms of the transaction in the statement.
Why it matters
Ang’s entry brings one of the country’s most prominent business leaders into Lopez Inc. and creates a partnership that Lopez said is consistent with the family’s history of working with outside individuals and institutions to grow its businesses.
Lopez welcomed Ang’s investment and pointed to their longstanding relationship.
“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,” the Lopez Inc. chief said.
What they’re saying
Lopez also highlighted the experience Ang could contribute to the holding company.
“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,” Lopez added.
The bigger picture
Beyond the potential business benefits, Lopez characterized the transaction as a move that could address matters affecting the family and its companies.
“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,” Lopez further stated.
The statement did not elaborate on the issues Lopez was referring to or provide further details on Ang’s prospective role in Lopez Inc. following the acquisition. —Daxim L. Lucas | Ed: Corrie S. Narisma
