LT Group, Inc. (LTG) is a Philippine publicly listed holding company headquartered in Bonifacio Global City, Taguig. It was founded in 1937 by Chinese Filipino business tycoon Lucio Tan.
 | |
| LT Group | |
| Formerly | The Manila Wine Merchants, Inc. (1937–1995) Asian Pacific Equity Corporation (1995–1999) Tanduay Holdings, Inc. (1999–2012) |
| Company type | Public |
| PSE: LTG | |
| Founded | May 25, 1937 |
| Founder | Lucio C. Tan[1] |
| Headquarters | , |
Area served | Worldwide |
Key people | Lucio C. Tan [1] (Chairman and CEO) Lucio C. Tan III (President and COO) Jose Gabriel D. Olives (CFO) |
| Revenue | PHP 91.2 billion (2021) [2] |
| PHP 20.2 billion (2021) [2] | |
| Website | ltg.com.ph |
LT Group, Inc. is majority-owned by Tangent Holdings Corporation, its ultimate parent company (also controlled by Tan).
History
editLT 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
editOn 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
editAir transport
edit- Philippine Airlines - 9.5% ownership by ANA Holdings
- PAL Express (Air Philippines Corporation, formerly Airphil Express) (PSE: PAL)
Banking
edit- Philippine National Bank (merger of Philippine National Bank and Allied Bank) (PSE: PNB)
Education
editFood & beverage
edit- Asia Brewery
- Tanduay Distillers, Inc.
- Absolute Distillers
Hotels
edit- Maranaw Hotels and Resort Corporation
Real estate
edit- Eton Properties Philippines
- Eton Centris
- Eton City
Tobacco & alcohol
edit- Asian Alcohol Corporation
- Fortune Tobacco Corporation (FTC)
- PMFTC, Inc. - 50% ownership by FTC
Others
edit- Allianz-PNB Life Insurance Inc. - Life insurance company. Allianz restarted its operations in 2016 under an exclusive partnership with the Philippine National Bank.
- MacroAsia Corporation - is one of the leading providers of aviation-related support services in the Philippines. (PSE: MAC)
- Victorias Milling Company (PSE: VMC) - minority ownership and management control
References
edit- ^ a b "Leadership". www.ltg.com.ph. Retrieved March 21, 2022.
- ^ a b "Data". www.edge.pse.com.ph. Retrieved March 18, 2022.
- ^ "LT Group". www.ltg.com.ph. Archived from the original on January 3, 2016. Retrieved October 7, 2015.
- ^ "Tanduay Corporate". Archived from the original on March 22, 2014. Retrieved March 22, 2014.
- ^ M. Montealegre, Krista Angela (November 5, 2012). "Tanduay buys out other owners of Eton Properties". interaksyon.com. Archived from the original on November 5, 2015.
- ^ "Consolidating Lucio Tan group hikes stake in Asia Brewery". Rappler.
- ^ "LT Group raises stake in Victorias Milling". Rappler.