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Manila Bulletin devider Business devider The Stock Market devider Monte Sur to launch ₱1.1-billion tender for Dominion stake

Monte Sur to launch ₱1.1-billion tender for Dominion stake

Published Jan 27, 2026 04:29 pm
Monte Sur Equity Holdings Inc. is launching a ₱1.09 billion tender offer for the minority stake in Dominion Holdings Inc., moving to consolidate control as it pivots the former BDO Unibank Inc. unit toward the mining sector.
In a disclosure to the Philippine Stock Exchange, Dominion said the offer targets the 30 percent of its shares held by the investing public at an estimated price of ₱1.68 per share.
The move is a regulatory requirement triggered by Monte Sur’s acquisition of a 70 oercentcontrolling interest from BDO Unibank, the country’s largest lender by assets.
Under the terms of the deal, Monte Sur is acquiring 1.51 billion shares from BDO for ₱2.54 billion. The transaction price is Dominion’s estimated net asset value of ₱3.42 billion plus a ₱200 million control premium. While BDO is divesting its majority position, the bank will retain an 18.54 percent minority interest in the entity.
Under its new ownership, Dominion plans to transform into a holding firm dedicated to mining operations, leveraging Monte Sur’s existing portfolio of extractive assets.
Management stated that while there are no definitive plans for specific acquisitions yet, the company’s primary mandate will be to invest in or acquire shares of mining corporations. This transition follows BDO’s long-term strategy to streamline its organizational structure, a process that began when the unit was converted into an investment holding company.
Monte Sur enters the transaction with a fully paid-up authorized capital stock of ₱2 billion. The company is 60 percent owned by Ashdale Holdings Inc., while the remaining 40 percent is held by British Virgin Islands-registered Freeport Investments Ltd.
The new leadership bench at Dominion will be led by Jorge T. Mendiola, who serves as President and Chairman of Monte Sur. The board includes Epitacio B. Borcelis, Luis Y. Benitez, and Corazon I. Morando. Elmer B. Serrano has been named Corporate Secretary, with Sheila Quien as Assistant Corporate Secretary and Nelson Acebo as Treasurer.
Dominion currently has 2.16 billion outstanding shares. The tender offer ensures that retail investors are provided an exit at the same valuation floor accepted by the majority shareholder during the change of control.

Related Tags

Monte Sur Equity Holdings Inc. Dominion Holdings Inc. BDO Unibank Inc.
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