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Manila Bulletin devider Business devider The Stock Market devider Antonio takes control: EEI chief acquires 20% stake from Speaker Martin Romualdez's RYM

Antonio takes control: EEI chief acquires 20% stake from Speaker Martin Romualdez's RYM

Published Mar 19, 2025 06:24 am
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EEI President and CEO Henry D. Antonio

Construction firm EEI Corp. reported that its President and CEO Henry D. Antonio has bought out the stake of House Speaker Martin Romualdez’s RYM Business Management in the company to become its biggest shareholder.

In a disclosure to the Philippine Stock Exchange, EEI said the management company controlled and led by Antonio is acquiring the 20 percent share of RYM Business Management.

As of this writing, the stock is trading at ₱4 per share, giving the acquisition of RYM’s 207.26 million EEI shares a market value of about ₱829 million.

Other shareholders of EEI are the Yuchengco family’s holding company House of Investments (15 percent), Industry Holdings and Development Corp. of tycoon Francis Chua (14 percent), Shenton Resources Pte. Ltd. of Singapore (six percent), and the investing public (45 percent).

“This acquisition marks a new era for the 93-year-old company, reinforcing its commitment to excellence, innovation, and industry leadership. The deal underscores Antonio’s deep understanding of EEI’s operations and long-term confidence in its mission, values, and potential for growth,” EEI said.

According to Antonio, “We have spent a lot of effort in the past two years restructuring the company following the devastating impact of the pandemic and I believe we’ve made progress in this area.

“I also see opportunities for us to make serious headway in transforming the business and diversifying into sectors such as real estate development and power. This management buyout underlines our belief in EEI’s overall growth potential. It will also provide us with a very direct impact on our own future as an organization.”

Antonio emphasized EEI’s steadfast dedication to mutual progress, noting that, “This is an exciting new phase for EEI. We will be looking for further opportunities for our own employees to acquire more shares in the company so that they too can also have a significant stake in its future.

“We have a competent and committed team, and we will continue to work hard to achieve inclusive growth for all our stakeholders,” Antonio said.

The buyout builds upon EEI’s strong legacy, ensuring that its core principles remain intact while meeting the demands of a dynamic construction industry.

“Antonio’s ownership and leadership are expected to further drive the company while staying true to its mission of forging partnerships that build success,” EEI said.

Related Tags

Henry D. Antonio Martin Romualdez EEI Corporation
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