Lopez family to inject ₱2.2B of own money into ABS-CBN after stake exit
What's the deal? Three branches of the Lopez family majority — Crème Investment Corp., Mantes Corp., and Presta Holdings Co. Inc. — will invest ₱2.2 billion ($35.9 million) into Philippine broadcaster ABS-CBN Corp.Dealroom has a profile for this one. Try Dealroom → The group said the funds will come from their personal resources.
Why now? The commitment lands days after Eugenio "Gabby" Lopez III's Crème Investment sold its 25.7% stake in ultimate holding company Lopez Inc.Dealroom has a profile for this one. Try Dealroom → to billionaire Ramon S. Ang.
The step-up: The ₱2.2-billion injection tops an earlier ₱2-billion infusion from Lopez Inc. that was reportedly blocked by cousin Federico "Piki" Lopez, who chose to focus on the group's power businesses through First Philippine Holdings Corp.Dealroom has a profile for this one. Try Dealroom → and First Gen Corp.Dealroom has a profile for this one. Try Dealroom →
What's the endgame? Gabby Lopez said the money will address obligations to long-serving employees and support ABS-CBN's recovery plans. Details are still to be finalized with the company.
"ABS-CBN has been part of this family for generations," Lopez said on behalf of the family. "We are putting our own money behind this conviction."
The signal: The move splits the Lopez majority's priorities in the open — some branches doubling down on media, others exiting towards power generation — as the family recalibrates its stake in a broadcaster still working through its recovery.
Image credit: AIB London
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