Skip to main content

 



Century Pacific Food, Inc. (PSE: CNPF) finalized the acquisition of LIGO Sardines Philippines, the owner of the popular canned tuna brand LIGO. The disclosure made to the Philippine Stock Exchange on 24 December 2021 mentioned the acquisition of the brand assets and intellectual property associated with the manufacturing of the brand’s product line. (Read the full report in Rappler.com)

CNPF is 68.72% owned by the Po family through its holding company Century Pacific Group Inc., as of 12 October 2021. Almost a third (31.22%) of the company belongs to public investors. (Source: PSE Edge)

LIGO is acquired from A. Tung Chingco Manufacturing Corp. (Read the full report in Business World)

Comments

Popular Posts

Tiu Takes Over Third PSE-Listed Shell Company

  Shell companies appeared to have their unique seduction in the Philippines.  On 16 December 2021, businessman Antonio L. Tiu disclosed his take over of the publicly listed shell firm Ever-Gotesco Resources and Holdings, Inc. (PSE: EVER), his third shell company acquired since 2008. (Read the full report from Bilyonaryo.com ) Tiu first took over MUSX Corp. (PSE: MUSX), a semiconductor company incorporated in 1992 in 2008, which he renamed later as Greenergy Holdings Inc. (PSE: GREEN), an investment holding company with a portfolio in agriculture (AgriNurture Development Holdings Inc.), agritourism (Winsun Green Ventures Inc.), real estate development (Sunchamp Real Estate Development Corp.), banking and finance, information technology (Lite Speed Technologies Inc. and Ocean Biochemistry Technology Research Inc. [non-operational as of yearend-2020]), and other environmentally friendly investments (Total Waste Management Recovery System Inc. [non-operational as of yearend-2020]...

PNB Distributes Stock Dividends on an Untraded Company

  Publicly listed Philippine National Bank (PSE: PNB) disclosed on 28 December 2021 the distribution of stock dividends representing shares of an untraded holding company Philcomsat Holdings Corporation (PSE: PHC). PNB shareholders before 13 May 2021 will receive 0.156886919 shares of PHC for every 1 share of PNB held. However, records in PSE Edge indicate that PHC has not been traded since 4 January 2021. The company also has not declared any dividend at least in the last fiscal year. This means that PNB investors will be effectively buying into PHC without being able to sell these shares or receive any PHC dividend from it. In PHC’s 2020 Annual Report (SEC Form 17-A2020), PNB is not among the top 20 stockholders of PHC, indicating that these shares might have been accumulated by PNB from the conversion of PHC loan with PNB because it is unlikely that PNB bought it from the stock market in the last 12 months.   (Sources: PSE Edge, PHC SEC Form 17-A2020)

Shakey's Pizza Acquires Potato Corner

  Pizza maker and chain restaurant owner Shakey’s Pizza Asia Ventures, Inc. (PSE: PIZZA) disclosed to the Philippine Stock Exchange the acquisition of food kiosk operator Potato Corner, a company that Jose P. Magsaysay, Jr. founded in 1992. (Read the full report from Business World ) Po family’s holding company Century Pacific Group, Inc. owns 50.36% of PIZZA together with venture capitalist Arran Investments Pte. Ltd. (16.81%) and JE Holdings, Inc. (9.05%), as of 13 October 2021. Public investors own 23.57% of PIZZA. (Source: PSE Edge)