LOPEZ-LED First Philippine Holdings Corp. (FPH) has taken a controlling stake in Asian Eye Institute Inc. (AEI) after it acquired an additional 33.5 percent stake in the company in a transaction worth P19.6 million.
In a disclosure to the Philippine Stock Exchange, FPH said it acquired on Thursday 150,000 AEI shares held by Dr. Felipe I. Tolentino at a price of P130 per share for a total transaction value of P19.5 million.
The additional stake gives FPH a 50.57 percent controlling stake in AEI.
Established in 2001, AEI is an ambulatory eye care institute located at Rockwell Center in Makati City, which also has satellite clinics in malls such as TriNoma in Quezon City, SM Mall of Asia in Pasay City, and Commercenter in Alabang.
FPH is a conglomerate owned and operated by the Lopez group, having businesses and interests in power generation (First Gen Corp., Energy Development Corp.), real estate development (Rockwell Land Corp., First Philippine Industrial Corp.), manufacturing (First Philec Inc.), and construction (First Balfour Inc.), among others.