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LT Group

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LT Group
Company typePublic (PSE: LTG)
Founded1937
FounderLucio Tan
HeadquartersTaguig, Philippines
Key people
Lucio Tan
(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 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).[3]

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.[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. ^ https://www.bloomberg.com/research/stocks/financials/financials.asp?ticker=LTG:PM&dataset=incomeStatement&period=A&currency=native
  2. ^ https://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. ^ "Archived copy". Archived from the original on 2014-03-22. Retrieved 2014-03-22. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)CS1 maint: archived copy as title (link)
  5. ^ http://www.interaksyon.com/business/47236/tanduay-buys-out-other-owners-of-eton-properties[permanent dead link‍]
  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
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