The Daily Tribune
RRHI buys back 22.2% stake via P15.77-B deal
Robinsons Retail Holdings, Inc. (RRHI) has repurchased a 22.2% stake from DFI Retail Group subsidiary GCH Investments Pte. Ltd. for P15.77 billion.
The transaction involved 315,309,310 common shares purchased at P50 per share, a 36.2% premium over RRHI's market price.
This strategic acquisition allows RRHI to regain greater control over its operations and future.
DFI Retail Group, formerly Dairy Farm International, became a significant minority shareholder in RRHI in 2018 following RRHI's acquisition of Rustan Supercenters, Inc. (RSCI).
DFI subsequently increased its stake in RRHI by purchasing secondary shares from members of the Gokongwei family and other investors.
RRHI shares rose nearly eight percent during Friday's morning session following the announcement, settling at P37.95, up 3.41 percent from the previous day.
RRHI president and CEO Stanley Co. stated that DFI has been instrumental in RRHI's growth.
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