fbpx
SheCreative Network
Philippine News

Ramon Ang gets minority stake in GMA Network

MANILA – GMA Network’s major stockholders have agreed to sell to Ramon S. Ang a participating minority equity interest in the Company’s outstanding capital stock, the network said in a statement. As of posting time, the network’s shares were up 4.45 percent compared with a 0.3 percent rise in the broader market

Ang, who is San Miguel President and Chief Operating Officer, told GMA News Online it was a “done deal.” 

GMA Chairman and CEO Felipe L. Gozon said, “What we can confirm right now is that the Jimenez, Gozon and Duavit groups of stockholders have decided to sell a minority stake to Ramon Ang. Details of the transaction will be disclosed once we have finalized everything.”

Sponsor

According to GMA, the concerned parties are presently negotiating the final terms and conditions of the share purchase documents. “An appropriate disclosure shall be made upon execution of the relevant definitive agreements by the parties for the transaction,” they said.

Partner with adobo Magazine

Related Articles

Back to top button