GOKONGWEI-led Robinsons Retail Holdings, Inc. (RRHI) is acquiring a 20 percent stake in Tast Central Curators, Inc., the firm which operates e-commerce site BeautyMNL. In a disclosure to the Philippine Stock Exchange (PSE), RRHI said it purchased 1 million shares in Taste Central from a juridical corporation. Transaction was worth less than 20 percent of RRHI’s stockholder’s equity as of end-September of 2017. RRHI is the retail arm of magnate John Gokongwei under his conglomerate JG Summit Holdings, Inc. It recently became part of the PSE index effective Sep. 28, 2017, replacing Energy Development Corp. of the Lopez family.

Source: Manila Times December 13, 2017 17:37 UTC