Alliance Global Group Inc. (AGI), the listed investment holding firm of tycoon Andrew Tan, said that affiliate California Orchard Growers Investment Inc. has sold its entire block of 120 million AGI shares to The Andersons Group Inc., the company’s principal shareholder.
The Andersons Group acquired the shares at P7.18 apiece, bringing the transaction value to about P861.8 million. The block represents roughly 1.4 percent of AGI’s 8.81 billion outstanding shares. Over the last 52 weeks, shares of AGI traded within the P5.76 and P9.74 price range.
As of end-September, The Andersons Group already owned 39.08 percent of AGI. Tan exercises control over the holding firm, meaning the latest purchase further consolidates his stake in the diversified conglomerate.
AGI’s portfolio spans real estate development, integrated tourism and gaming, food and beverage, and quick-service restaurants, with recent moves expanding into infrastructure. Its major subsidiaries include liquor giant Emperador Inc.; property developer Megaworld Corp.; Travellers International Hotel Group Inc., operator of leading integrated resorts; and Golden Arches Development Corp., the master franchisee of McDonald’s in the Philippines.
The share acquisition underscores continuing confidence from AGI’s controlling shareholder as the group accelerates expansion across its core businesses and strengthens its push into new growth segments.
