LT Group

LT Group
Company type	Public (PSE: LTG)
Founded	1937
Founder	Lucio Tan
Headquarters	Taguig, Philippines
Key people	Lucio Tan ; (Chairman and CEO); Michael G. Tan ; (President and COO); Jose Gabriel D. Olives (CFO)
Revenue	PHP52.125 billion (2014)
Net income	PHP4.410 billion (2014)
Website	ltg.com.ph

LT Group, Inc. (PSE: LTG), colloquially called as the Lucio Tan Group, 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 as The Manila Wine Merchants, Inc. (TMWMI). 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 company's name change to Asian Pacific Equity Corporation (APEC) as well as the change of its role from a merchant to a holding company. On November 10, 1999, the corporate name was again changed to Tanduay Holdings, Inc (THI), and again on November 20, 2012 to its current name, LT Group, Inc. (LTG).^[2]

Acquisitions

On July 8, 1999, as Asian Pacific Equity Corporation, the company acquired 100% ownership of Twin Ace Holdings (Tanduay) in a stock swap. On July 30, 1999, Twin Ace Holdings changed its name to Tanduay Distillers, Inc.^[3]

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.^[4]^[5]^[6]

Companies

Air Transport

Philippine Airlines - 9.5% ownership by ANA Holdings
- PAL Express

Food & Beverage

Asia Brewery
Tanduay Distillers, Inc.
- Absolute Distillers

Tobacco & Alcohol

Asian Alcohol Corporation
Fortune Tobacco Corporation (FTC)
- PMFTC, Inc. - 50% ownership by FTC

Banking

Philippine National Bank (merger of Philippine National Bank and Allied Banking Corporation) (PSE: PNB)
- PNB Savings Bank

Real Estate

Eton Properties Philippines

Others

MacroAsia Corporation - is one of the leading providers of aviation-related support services in the Philippines.
Victorias Milling Company (PSE: VMC) - minority ownership and management control

References

^ ^a ^b "Data". www.bloomberg.com. Retrieved 2019-09-29.
^ "LT Group". www.ltg.com.ph.
^ "Archived copy". Archived from the original on 2014-03-22. Retrieved 2014-03-22.{{cite web}}: CS1 maint: archived copy as title (link)
^ http://www.interaksyon.com/business/47236/tanduay-buys-out-other-owners-of-eton-properties^{[permanent dead link]}
^ "Consolidating Lucio Tan group hikes stake in Asia Brewery". Rappler.
^ "LT Group raises stake in Victorias Milling". Rappler.

External links

LT Group

[auto-1] "Data". www.bloomberg.com. Retrieved 2019-09-29.

[2] "LT Group". www.ltg.com.ph.

[3] "Archived copy". Archived from the original on 2014-03-22. Retrieved 2014-03-22.{{cite web}}: CS1 maint: archived copy as title (link)

[4] ttp://www.interaksyon.com/business/47236/tanduay-buys-out-other-owners-of-eton-properties^{[permanent dead link]}

[5] "Consolidating Lucio Tan group hikes stake in Asia Brewery". Rappler.

[6] "LT Group raises stake in Victorias Milling". Rappler.

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