A. Soriano Corporation to Acquire Minority Stake in The Bistro Group

A. Soriano Corporation (Anscor) signed a Deed of Sale with Navegar I (Singapore) PTE. LTD. to acquire a minority stake in TBG Food Holdings, Inc. (TBG) for a total consideration of P1,609,300,000.00.

This will expand Anscor’s investment portfolio in one of the most attractive and resilient market segments in the Philippines, the consumer sector.

The terms and conditions of the transaction:

Number of shares to be acquired or disposed: Minority equity position
Percentage to the total outstanding shares of the company subject of the transaction: Below 50%
Full payment of P1,609,300,000.00 in cash.

TBG Food Holdings, Inc., also known as The Bistro Group is a premium casual restaurant operator in the Philippines, owning and operating over 200 full-service restaurants across 23 brands, including iconic names such as Italianni’s, TGI Friday’s, and Texas Roadhouse.

A. Soriano Corporation (Anscor) is a holding company with diverse investments. Core operating investments include Phelps Dodge Philippines Energy Products Corporation (cable and wire manufacturing) and Seven Seas Resorts and Leisure, Inc. (owner of the famous Amanpulo Resort). Anscor has a number of other investments in companies engaged in a wide range of activities in the Philippines such as aviation and real estate. Likewise, the Company has investments in equities traded in the Philippine Stock Exchange, private equity funds, foreign currency denominated bonds and offshore hedge funds.