LT Group

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LT Group, Inc.
Company typePublic (PSE: LTG)
Founded2012
FounderLucio C. Tan, Sr.
HeadquartersTaguig City, Philippines
Key people
Lucio C. Tan, Sr. (Chairman and CEO)
Michael G. Tan (President and COO)
Jose Gabriel D. Olives (CFO)
RevenuePHP52.125 billion (2014)[1]
PHP4.410 billion (2014) [2]
Websitewww.ltg.com.ph

LT Group, Inc. (PSE: LTG) is a publicly listed holding company of Chinese Filipino business tycoon Lucio Tan in the Philippines. LT Group, Inc. is majority-owned by Tangent Holdings Corporation, its ultimate parent company (also controlled by Tan).

History

LT Group, Inc. (LTG) was incorporated on May 25, 1937 under the name The Manila Wine Merchants, Inc. (TMWMI) to engage in the trading business. On November 17, 1947, TMWMI was listed in the Philippine Stock Exchange (PSE). On September 22, 1995, the Securities and Exchange Commission (SEC) approved the change in name to Asian Pacific Equity Corporation (APEC) and the change of its primary purpose to that of a holding company. On November 10, 1999, the corporate name was again changed to Tanduay Holdings, Inc (THI). On November 20, 2012, the SEC approved the change in the corporate name to LT Group, Inc. (LTG).[3]

Acquisitions

On July 8, 1999, the company, then known as Asian Pacific Equity Corporation, acquired 100% ownership of Twin Ace Holdings (Tanduay) via a share swap with Twin Ace's existing shareholders. On July 30, 1999, Twin Ace Holdings changed its name to Tanduay Distillers, Inc.[4]

Since 2012, the company began a series of consolidation of assets belonging to Tan by acquiring interests in Asia Brewery, Inc., Fortune Tobacco Corporation, Eton Properties Philippines, Inc. (Paramount LandEquities, Inc. and Saturn Land Holdings, Inc.), Philippine National Bank, Allied Banking Corporation and Victorias Milling Company.[5][6][7]

Companies

References

  1. ^ http://www.bloomberg.com/research/stocks/financials/financials.asp?ticker=LTG:PM&dataset=incomeStatement&period=A&currency=native
  2. ^ http://www.bloomberg.com/research/stocks/financials/financials.asp?ticker=LTG:PM&dataset=incomeStatement&period=A&currency=native
  3. ^ http://www.ltg.com.ph/history.html
  4. ^ http://www.tanduay.com/corp/who_we_are/history
  5. ^ http://www.interaksyon.com/business/47236/tanduay-buys-out-other-owners-of-eton-properties
  6. ^ http://www.rappler.com/business/17400-consolidating-lucio-tan-group-hikes-stake-in-asia-brewery
  7. ^ http://www.rappler.com/business/business-deals/54993-lucio-tan-lt-group-sugar-milling-victorias

External links

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