Tag page - Crisanto Roy B. Alcid

Gregorio Araneta III’s ₱1.8 billion management takeover of gaming firm PhilWeb Corp. will be undertaken in two tranches, effectively moving back the requirement for mandatory tender offer to minority shareholders. PhilWeb disclosed to the Philippine Stock Exchange that principal shareholder...

In a management takeover, President Marcos’ brother-in-law, Gregorio Araneta III, is divesting his entire 57 percent stake in the publicly listed gaming firm PhilWeb Corp. for ₱1.8 billion in favor of two firms, one of which is headed by PhilWeb’s President, Edgar Brian K. Ng. PhilWeb...