Philippine Billionaire Ramon Ang Buys Stake In Lopez Family’s Energy, Media Group

--:-- / --:-- This voice experience is generated by AI. Learn more . This voice experience is generated by AI. Learn more . Ramon Ang, chairman and CEO of San Miguel Jinggo Montenejo for Forbes Asia Billionaire Ramon Ang —the controlling shareholder of Philippine infrastructure and brewery giant San Miguel —has in his personal capacity acquired a quarter of Lopez Inc., a private holding company that has interests in energy, media and real estate. Ang, who is chairman and CEO of San Miguel, acquired 25.7% of Lopez Inc. from one of the branches of the family, the tycoon and Eugenio Lopez III said in a joint statement, without giving the value of the transaction. The Lopez family’s business empire includes energy venture First Philippine Holdings, property developer Rockwell Land and ABS-CBN Broadcasting, once a Philippine media giant. First Gen, a key asset of First Philippine Holdings, owns the nation’s largest producer of geothermal energy Energy Development Corp. One of the oldest Philippine business dynasties, the family traces their roots to the 19th century and got their start in sugar and shipping and later evolved into power utilities, media and real estate. The family’s rise is closely intertwined with Philippine politics and the country’s economic history. “I have known the Lopez family for decades. Not one branch of it, but all of them. I am a friend to each, and I intend to stay that way,” And said in the statement. “I came in because I believe in these businesses, and because a steady partner at the table can be good for everyone around it.”