Estate planning: D&L chairman moves P199M shares to family firm
Food

Estate planning: D&L chairman moves P199M shares to family firm

The 67-year old chairman of D&L Industries transferred his direct holdings in the food ingredients firm as part of his family’s wealth management.

The 67-year old chairman of D&L Industries transferred his direct holdings in the food ingredients firm as part of his family’s wealth management.

Yin Yong Lao moved 26.193 million shares of D&L at a transfer price of P7.60 per share to CEE Industries, his family’s holding firm.

The transfer slashed Lao’s direct stake to 32.993 million shares worth P262 million at current market price.

Lao had previously reduced his indirect holdings from 34.778 million to 11.358 million following a reorganization of CEE.

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