Ramon S. Ang has bought into Lopez Inc., a development confirmed by former ABC-CBN chairman Eugenio “Gabby” Lopez III who said Monday that Creme Investment Corp., the holding company through which his branch of the family owns a 25.7 percent stake in Lopez Inc., the private holding company of the Lopez Group, has completed the sale that shareholding to Ang.

Ang said he made the investment in his own personal capacity through his wholly-owned holding company.

Lopez said the decision was partly driven by a long-running family dispute, which he said had affected both relatives and employees across their businesses.

Family first and foremost

“The first is my family,” he said, in explaining that he had two reasons for selling his branch of the family’s share in Lopez Inc.“This dispute has not been good for any of us, or for the people who work in our companies. This allows us to take a step towards the restoration of family peace."

The second reason, he said, is that “it allows me to channel our family’s resources into businesses aligned with our personal mission. We will announce more on this in due time. Our families have known Ramon a long time. I am confident he will be a good partner to Lopez Inc.”

Longstanding relationship

Ang said his decision was also rooted in his longstanding relationship with the Lopez family and his confidence in its businesses.

“I have known the Lopez family for decades. Not one branch of it, but all of them. I am a friend to each, and I intend to stay that way,” said the billionaire businessman.

“I came in because I believe in these businesses, and because a steady partner at the table can be good for everyone around it,” he added.

Lopezes still the majority in Lopez Inc.

Ang stressed that the Lopez family branches retaining the controlling majority would continue to lead the group.

“My interest is that the group comes out of this stronger,” Ang said.

Lopez Inc. is the private holding company of the Lopez Group, whose interests span power, infrastructure, property and media. Its listed companies have a combined market value of about P155 billion, while First Philippine Holdings Corp. owns roughly 4 percent of Meralco.

Other entities holding shares in Lopez Inc. include Manolo Lopez, Oscar Lopez and Presentacion “Presy” Lopez-Psinakis (all deceased) and their respective families.