He noted that he decided to sell his part to channel resources to businesses aligned with his personal mission.
A major shift happened within the empire of the Lopez family over the weekend as a major divestment was made by one of the key personalities within the company.
Eugenio “Gabby” Lopez III, who is best known as the former Chairman of media giant ABS-CBN Corporation, through his Creme Investments Corporation (CIC), sold his stake in Lopez, Inc. (LPZ).
Also known by his codename EL3, he sold off his 25.68 percent stake in the family-run corporation to an outside in San Miguel Corporation (SMC) Chairman and CEO Ramon Ang.
In a statement, Gabby Lopez said that he decided to sell due to the squabble between his side and another member, Federico “Piki” Lopez, which was brought to the public eye earlier this year.
Noting his family as the first reason for his move to dispose of the shares in the company, Gabby told: “This dispute has not been good for any of us, or for the people who work in our companies. This allows us to take a step towards the restoration of family peace.“
He also mentioned that the other half of the rationale for the divestment was to allow himy to “channel our family’s resources into businesses aligned with our personal mission.” Details of which, he will announce more on this in due time.
On choosing to Ang to purchase his shares, Lopez said: “Our families have known Ramon a long time. I am confident he will be a good partner to Lopez, Inc.”
In response, Ang also told that he has known the Lopez family for decades. “Not one branch of it, but all of them.”
The business mogul also emphasized that he us a friend to each, and that he intends to stay that way. “I came in because I believe in these businesses, and because a steady partner at the table can be good for everyone around it,” he added.
Ang then stated that the family branches continue to hold the controlling majority of Lopez, Inc., and they will continue to lead it.
“My interest is that the group comes out of this stronger,” he concluded his statement.
Meanwhile, for disclosure, San Miguel Corporation said that Ramon Ang’s move was made in in his personal capacity through Illumina Investment Holdings, Inc., which is a corporation wholly owned by Ang.
The conglomerate also noted that Illumina’s purchase of CIC’s stake in the company was made upon an invitation made by Gabby’s camp.
Ang will also disclose his move to the members of the SMC Board of Directors during the meeting on August 13, 2026.
As a result of the sale, Roberta Feliciano resigned from her post as member of the Board of Directors of both Lopez, Inc. and First Philippine Holdings, Inc., effective immediately.
For his part, Piki Lopez said that he welcomes Ramon Ang’s investment into the company: “We recognize the value that Ramon brings to (Lopez, Inc.) with his proven expertise and extensive experience. The Lopez family’s entry into this partnership with him is truly a welcome development and in line with our history of partnering with recognized individuals and institutions to promote the growth of our businesses.”
He also stated that this move is a “great step” toward resolving issues within their family.
