Skip to content
  • About Us
  • Contact Us
  • RSS
Facebook Twitter Instagram
  • Home
  • Business
  • Social
  • Video
  • Money
  • Power
  • Property
  • Travel
  • Technology
  • Health
  • Lifestyle
  • Food & Nature
  • Fine Works
  • Golf
Menu
  • Home
  • Business
  • Social
  • Video
  • Money
  • Power
  • Property
  • Travel
  • Technology
  • Health
  • Lifestyle
  • Food & Nature
  • Fine Works
  • Golf
BILYONARYO.COM
Search
Popular Tags Today:
MONDE, Terramino, koji-based fake meat |
Betty Ang, Quorn |
Charlene Singson |
Dennis Uy, Ricky Razon, PH Resorts |
Alanis Morissette
  • Home
  • Business
  • Social
  • Video
  • Money
  • Property
  • Technology
  • Travel
  • Health
  • Lifestyle
  • Food & Nature
  • Fine Works
  • Golf
  • RSS
Menu
  • Home
  • Business
  • Social
  • Video
  • Money
  • Property
  • Technology
  • Travel
  • Health
  • Lifestyle
  • Food & Nature
  • Fine Works
  • Golf
  • RSS

Bilyonaryo - Business

JG Summit stake slashed by nearly 11%: Lance Gokongwei gets P12.4B from sale of Meralco shares

  • July 29, 2022
  • Bilyonaryo.com

Ultra bilyonaryo Lance Gokongwei has disposed a chunk of JG Summit’s stake in Manila Electric Co. (MER).

Gokongwei raised P12.384 billion from the sale of JG’s 36 million shares in MER for P344 or six percent discount to its closing price of P366 the previous day, July 28.

Gokongwei tapped UBS AG Singapore to handle the private placement.

The overnight block trade of is 10.8 percent of JG’s 333.19 million shares in MER. JG’s stake will go down from 29.5 percent to 26.3 percent.

Analysts expect the sale to generate a windfall of P3 billion for JG which booked its shares in MER at P244 per share as of March 2022.

JG originally bought a 27 percent stake in MER from San Miguel Corp. for P72 billion in 2013.

  • Related News Tags: JG Summit, Lance Gokongwei, Manila Electric Co. (MER)
PrevPreviousGood times! Rocio Tambunting never leaves parties early
NextFail! Instagram sidelines TikTok-like features following complaintsNext

You may also like

Watch more Usapang Bilyonaryo

15 Japanese firms to invest in the Philippines following successful Osaka Business Mission

Fifteen Japanese firms are poised to invest in various sectors in the Philippines, including manufacturing, food, agriculture, pharmaceuticals, electronics, and machinery, after the successful conclusion of the three-day Osaka Business Mission.

On the mend: Lopez family’s ABS-CBN cuts losses by 54% on strong ad and consumer sales

ABS-CBN Corp. of the Lopez family reduced its net loss by 54 percent to P2.6 billion last year, primarily due to higher advertising and consumer sales.

LYKA loses again: ARTA rejects Bren Chong firm’s request for automatic registration

The Anti-Red Tape Authority (ARTA) said controversial online payments platform Lyka Gems cannot avail of automatic company registration despite delays in its application before the Securities and Exchange Commission (SEC).

LTO implements driving school fee caps, biometric registration and attendance monitoring

Starting April 15, the Land Transportation Office (LTO) will set limits on driving school fees nationwide due to complaints of high rates.

Tubong lugaw! Hontiveros slams sale of smuggled sugar at P71/kilo

Senator Risa Hontiveros has called out the Marcos administration for allegedly trying to make a profit out of smuggled sugar intercepted at the Subic and Batangas ports.

15 Japanese firms to invest in the Philippines following successful Osaka Business Mission

On the mend: Lopez family’s ABS-CBN cuts losses by 54% on strong ad and consumer sales

LYKA loses again: ARTA rejects Bren Chong firm’s request for automatic registration

LTO implements driving school fee caps, biometric registration and attendance monitoring

Tubong lugaw! Hontiveros slams sale of smuggled sugar at P71/kilo

Betty Ang’s fake meat flop! Monde chucks Quorn’s 2023 opex amid stinking sales, diverts P2.1 billion budget to core brands in Asia

Oplan Biyaheng Ayos: PITX ensures safety of commuters during Holy Week

Growing infrastructure portfolio: San Miguel clinches 35-year concession for Batangas toll road project

Nganga uli! Dennis Uy looking for new white knight after Ricky scraps plan to buy debt-saddled PH Resorts’ Cebu, Clark casinos

Read more Business stories

Recommended from sister websites

→ Abogado
Marcos Jr denies pouncing on Teves over old e-sabong scandal
→ Abogado
Guevarra: Former president Duterte may face ICC arrest warrant for drug war deaths
→ Politiko
Marcos to public servants: Let’s make the Philippines respected worldwide
→ Politiko
Tansingco: Fugitive Taiwanese ‘drug lord’ deported
→ Bankero
Second Tier’ PH Banks expected to underperform – Fitch unit
Power

PH conglomerate and global energy firms eye Tanay wind power project partnership with Vince Perez-led Alternergy

Three energy firms have shown interest in partnering with Alternergy Tanay Wind Corporation, a wholly-owned subsidiary of Alternergy led by Vince Perez, for the development of the proposed Tanay wind power project in Rizal.

Money

Maybank Philippines accused of misusing Bayanihan Act to collect additional interest from borrower

Maybank Philippines Inc. is facing criticism for allegedly using the Bayanihan Act as an excuse to charge its customer an additional P8,341 in interest.

Business

On the mend: Lopez family’s ABS-CBN cuts losses by 54% on strong ad and consumer sales

ABS-CBN Corp. of the Lopez family reduced its net loss by 54 percent to P2.6 billion last year, primarily due to higher advertising and consumer sales.

Property

A slice of Italian luxury in paradise: Andrew Tan eyes P2 billion in sales from Megaworld’s Positano Mactan

Megaworld Corporation of bilyonaryo Andrew Tan, is set to unveil its latest masterpiece in the heart of the picturesque Mactan Newtown in Lapu-Lapu City, Cebu.

Latest on Bilyonaryo

US charges Korean Crypto fugitive after reported arrest in Montenegro

Fugitive South Korean cryptocurrency entrepreneur Do Kwon, accused of orchestrating a multi-billion-dollar fraud that shook global crypto markets last year, has been arrested in Montenegro and faces fresh criminal charges in the United States.

Read More »

Maybank Philippines accused of misusing Bayanihan Act to collect additional interest from borrower

Maybank Philippines Inc. is facing criticism for allegedly using the Bayanihan Act as an excuse to charge its customer an additional P8,341 in interest.

Read More »

Celebrating love and connection: Pie Alvarez’s Instagram birthday post for Neil Mercado

On Instagram, Pie Alvarez sent her partner Neil Paredes Mercado a warm birthday greeting.

Read More »

Charles Tiu and wife Sari experience world-class music at David Foster concert in Solaire

Basketball coach and businessman Charles Tiu and wife Sari Lazaro had a memorable date night at David Foster’s concert at Solaire Resort and Casino.

Read More »

15 Japanese firms to invest in the Philippines following successful Osaka Business Mission

Fifteen Japanese firms are poised to invest in various sectors in the Philippines, including manufacturing, food, agriculture, pharmaceuticals, electronics, and machinery, after the successful conclusion of the three-day Osaka Business Mission.

Read More »

Medalla aims to keep inflation in check by yearend

The Bangko Sentral ng Pilipinas (BSP) has raised its benchmark rate by 25 basis points to 6.25 percent in a bid to ensure that inflation remains below four percent by November or December this year.

Read More »
Back to Bilyonaryo.com homepage

Exclusive!

Who’s Who at ART SG

January 12, 2023

Art SG kicked off today with art world legends and collectors showing up with extra vigor after a two-year delay due to the pandemic.

Read More »

Advertisement

Bilyonaryo Premium Ad 1
Bilyonaryo Premium Ad 2
Bilyonaryo Premium Ad 3
Bilyonaryo Premium Ad 4
Bilyonaryo Premium Ad 5

Trending on
Business

GOLD
Betty Ang’s fake meat flop! Monde chucks Quorn’s 2023 opex amid stinking sales, diverts P2.1 billion budget to core brands in Asia

Nganga uli! Dennis Uy looking for new white knight after Ricky scraps plan to buy debt-saddled PH Resorts’ Cebu, Clark casinos

Tubong lugaw! Hontiveros slams sale of smuggled sugar at P71/kilo

PLATINUM
Food maker’s employee arrested for selling trade secrets and attempting extortion

Even the best fall down sometimes: Here are biggest fast food flops of Tony Tan Caktiong’s Jollibee

Lucio Tan’s LT Group sees robust growth in hard liquor and beverage units while banking, tobacco and real estate businesses disappoint

TITANIUM
Even the best fall down sometimes: Here are biggest fast food flops of Tony Tan Caktiong’s Jollibee

Gift daw from Kapitan! Lucio Tan’s trusted aide nabbed for P12-M extortion try after tip from his son-in-law Stanley Ng

MVP boys civil war! Is PLDT’s Al Panlilio finally getting his revenge over Ray Espinosa’s Meralco broadband expansion?

Read more Business stories

Trending on
Bilyonaryo

Business News

Betty Ang’s fake meat flop! Monde chucks Quorn’s 2023 opex amid stinking sales, diverts P2.1 billion budget to core brands in Asia

Social Fancy News

Ernie Lopez and Carlo Katigbak team up for a worthy cause in Leyte

Money News

More options for transactions: GCash adds Uno Digital Bank as in-app partner

Technology News

Meet the youth reframing the news for TikTok, YouTube

Power News

Battle of the titans: Ayala, Yuchengco, Lopez, Aboitiz, MVP Group vying for 165MW Casecnan hydroelectric power plant

Property News

Gotianun family’s REIT earnings hit by office revenue drop

Lifestyle News

Isn’t it ironic? Alanis Morissette fans who bought concert tickets in 2020 need to buy again for 2023 gig

Food & Nature News

‘Di na natuto sa Quorn! Monde invests P108M for tiny stake in koji-based fake meat maker Terramino

Health News

All hormonal contraceptives increase breast cancer risk: study

Travel News

Greece vows to halt illegal construction in Mykonos

Golf News

Lee wins LIV Tucson event

Back to Bilyonaryo home page

Trending on
Bilyonaryo

Business News

• Betty Ang’s fake meat flop! Monde chucks Quorn’s 2023 opex amid stinking sales, diverts P2.1 billion budget to core brands in Asia

• Nganga uli! Dennis Uy looking for new white knight after Ricky scraps plan to buy debt-saddled PH Resorts’ Cebu, Clark casinos

Social Fancy News

• Ernie Lopez and Carlo Katigbak team up for a worthy cause in Leyte

• China Cojuangco Gonzalez’s daughters shine like princesses with magical sticker gems

Money News

• More options for transactions: GCash adds Uno Digital Bank as in-app partner

• Swiss sweat over size of new superbank

Technology News

• Meet the youth reframing the news for TikTok, YouTube

• Gaming giant Tencent’s 2022 annual net profit falls 16%

Power News

• Battle of the titans: Ayala, Yuchengco, Lopez, Aboitiz, MVP Group vying for 165MW Casecnan hydroelectric power plant

• Dennis Uy’s Phoenix and Petronas sign MOU for downstream marketing collaboration

Property News

• Gotianun family’s REIT earnings hit by office revenue drop

•

Lifestyle News

• Isn’t it ironic? Alanis Morissette fans who bought concert tickets in 2020 need to buy again for 2023 gig

• DNA analysis of Beethoven’s hair provides clues to his death

Food & Nature News

• ‘Di na natuto sa Quorn! Monde invests P108M for tiny stake in koji-based fake meat maker Terramino

• Sugar traders strike it rich with controversial importation deal

Health News

• All hormonal contraceptives increase breast cancer risk: study

• China approves first domestic mRNA vaccine for Covid-19

Travel News

• Greece vows to halt illegal construction in Mykonos

•

Golf News

• Lee wins LIV Tucson event

•

Back to Bilyonaryo home page

Copyright © 2022. Bilyonaryo. All Rights Reserved.
  • Home
  • Business
  • Social
  • Video
  • Money
  • Property
  • Technology
  • Travel
  • Health
  • Lifestyle
  • Food & Nature
  • Fine Works
  • Golf
  • RSS
Menu
  • Home
  • Business
  • Social
  • Video
  • Money
  • Property
  • Technology
  • Travel
  • Health
  • Lifestyle
  • Food & Nature
  • Fine Works
  • Golf
  • RSS