BILLIONAIRE Ramon S. Ang has acquired a 25.7 percent stake in Lopez Inc., stepping into one of the country’s most prominent family conglomerates following a bitter internal dispute.
Ang purchased the shares through his personal vehicle, Illumina Investment Holdings Inc., acquiring the stake previously held by Crème Investment Corp., which represents the family branch of Eugenio “Gabby” Lopez III.
The transaction follows a public fallout that began in February 2026 when the board moved to remove Federico “Piki” Lopez as president and CEO, triggering a court battle and governance tensions over key transactions, including First Gen Corp. assets and ABS-CBN.
Despite Ang’s entry, the remaining branches of the Lopez family will retain majority control, meaning the deal does not trigger a tender offer for the group’s listed firms.
The conglomerate’s portfolio spans power, property, and media, including First Gen Corp., First Philippine Holdings Corp., Lopez Holdings Corp., Rockwell Land Corp., and ABS-CBN Corp., with a combined market value exceeding P150 billion.
First Philippine Holdings also maintains a 4 percent stake in Manila Electric Co. (Meralco) valued at roughly P22 billion.
Addressing the investment, Ang emphasized his long-standing ties with all factions of the family. “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,” Ang stated, adding that his goal is to serve as a steady partner and ensure the group emerges stronger.
For Gabby Lopez, the sale marks a transition toward resolving the prolonged conflict.
“This dispute has not been good for any of us, or for the people who work in our companies,” Lopez said, noting that the move allows his branch to restore peace and pivot resources toward new ventures aligned with their personal mission.
Ang, who serves as chairman and CEO of San Miguel Corp., is scheduled to brief the SMC board on the personal investment on August 13.
