Ramon Ang acquires Gabby Lopez's 25.68% stake in Lopez Inc.

August 10, 2026 | 12:00pm

MANILA, Philippines — Tycoon Ramon Ang is buying the 25.68% stake in Lopez Inc. held by the family branch of former ABS-CBN chairman Eugenio "Gabby" Lopez III, bringing an outsider into the private parent of the Lopez Group amid a months-long family feud.

Crème Investment Corp., the holding company representing Gabby's branch of the Lopez family, sold its entire stake in Lopez Inc. to Ang, according to disclosures and statements released Monday, August 10.

The price and other financial terms were not disclosed.

Ang is making the investment in his personal capacity through a wholly owned holding company, rather than through conglomerate San Miguel Corp, where he is CEO and chairman.

SMC said Ang is expected to brief its board on the transaction at its next meeting on August 13.

'Family peace.' Gabby said the sale was partly intended to help end a dispute that has spilled across the family's companies and into the courts.

"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," Gabby said, as quoted in several media reports.

He said the transaction would also allow his branch of the family to redirect its resources toward businesses aligned with its own priorities.

The sale gives Ang a major stake in the private holding company sitting above businesses that include investment firm First Philippine Holdings, energy provider First Gen, real estate company Rockwell Land and media giant ABS-CBN.

The remaining Lopez family branches will continue to hold the controlling majority of Lopez Inc.

The Lopez feud. The family's internal dispute erupted publicly in February after a majority of the Lopez Inc. board moved to remove Federico "Piki" Lopez as president and CEO in a 5-2 vote, citing cause and loss of trust.

Piki challenged the move in court. The majority later withdrew the resolution seeking his removal in May, but disputes over the group's governance and major energy transactions continued.

Among the flashpoints were First Gen's transactions with Enrique Razon Jr.'s Prime Infrastructure, including the P50-billion sale of a controlling stake in First Gen's gas business and agreements involving its hydropower assets.

The majority bloc questioned provisions in those deals that it said could expose First Gen to substantial losses if Piki were removed from key management posts. First Gen disputed allegations of wrongdoing and said the provisions were requested by Prime Infra as protection for its investments.

Piki has also said the attempt to remove him was linked to his refusal to support a proposed P2-billion capital infusion into financially struggling ABS-CBN. The majority maintained that his removal was based on cause and loss of trust.

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