- Published at
- by manilatimes.net
positive
positive
Robinsons Retail buys back stake for P15.77B
GOKONGWEI-LED Robinsons Retail Holdings Inc. (RRHI) on Friday said that it had reacquired 315,309,310 common shares, equivalent to a 22.2 percent stake in the company, held by a DFI Retail Group unit 'to optimize capital allocation and create more value to its stakeholders.' The shares in question, which belonged to DFI's GCH Investments Pte. Ltd., were repurchased at P50.00 apiece, for a total purchase price of P15.77 billion. The price, which was a premium compared to Robinsons Retail's closing price of P37.80 on Friday, was said to have been mutually agreed upon.