BUSINESSMAN Roberto V. Ongpin is selling his entire 53.76-percent controlling stake in embattled PhilWeb Corp. to Gregorio Ma. Araneta 3rd for P2 billion as a part of his plan to save the company from closure.
In a disclosure to the Philippine Stock Exchange on Wednesday, PhilWeb said Ongpin through his financial advisor KPMG (R.G. Manabat & Co.) concluded the sale of Ongpin’s 771.651 million PhilWeb shares to Gregorio Araneta Inc. at P2.60 per share.
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