Tycoon Ramon Ang has personally acquired a 25.7 percent stake in Lopez Inc. from the family branch of Eugenio Lopez III, a move aimed at resolving a bitter family feud and reshaping leadership across the powerful Philippine conglomerate’s energy and media holdings.
The transaction brings an influential outsider into the upper echelons of one of the country’s most historic business dynasties.
The deal shifts a quarter-share of Lopez Inc., the private holding company sitting above a sprawling corporate empire that includes investment firm First Philippine Holdings, energy provider First Gen, real estate developer Rockwell Land, and broadcast giant ABS-CBN.
Resolving an Internal Family Feud
The sale stems from a bitter schism within the Lopez family. Cousins Eugenio "Gabby" Lopez III and Federico "Piki" Lopez had clashed openly over additional investments in ABS-CBN. The broadcaster has accumulated massive financial headwinds, piling up losses exceeding 45 billion pesos ($741 million) since Congress rejected the renewal of its free-to-air broadcasting franchise in 2020.
The friction erupted into public view in February when a majority bloc on the Lopez Inc. board voted 5-2 to oust Federico as president and chief executive, citing cause and loss of trust. Although that removal resolution was withdrawn in May, disputes persisted over corporate governance and major energy transactions—including First Gen asset deals with Enrique Razon Jr.’s Prime Infrastructure.
“This dispute has not been good for any of us, or for the people who work in our companies. This allows us to take a step towards the restoration of family peace.”
Eugenio noted that divesting his branch’s stake serves two distinct goals: ending the damaging infighting and allowing his family branch to redirect resources toward enterprises aligned with their personal mission.
Boardroom Realignment and Corporate Continuity
The transaction triggered immediate structural shifts. First Philippine Holdings disclosed to the stock exchange that director Roberta Feliciano resigned from its board following the sale of Crème Investment Corp.’s shares to Ang. Feliciano is the sister of former ABS-CBN chairman Eugenio Lopez III.
Despite bringing an outside titan into the fold, the remaining family branches retain a controlling majority of Lopez Inc. Federico Lopez welcomed the development as a stabilizing milestone.
“The Lopez family’s entry into this partnership with Ang is truly a welcome development and in line with our history of partnering with recognized individuals and institutions to promote the growth of our businesses. It’s a great step toward resolving issues that have affected our family as well as our businesses and can only be good for everyone.”
Photo: Inquirer
Federico Lopez, via Forbes
For his part, Ang emphasized that his participation is meant to steady the ship rather than upend leadership. Holding an estimated net worth of $3.5 billion, Ang ranks as the country’s third wealthiest tycoon according to Forbes Asia, standing in sharp contrast to Federico Lopez and his family’s combined fortune of $290 million.
“I came in because I believe in these businesses, and because a steady partner at the table can be good for everyone around it. The family branches that continue to hold the controlling majority of Lopez, Inc., will continue to lead it. My interest is that the group comes out of this stronger.”
Financial terms of the transaction remain undisclosed by all parties involved. While Ang executed the purchase privately, the acquisition carries direct corporate weight for his primary industrial home.
Gabby Lopez sells family branch's stake in Lopez, Inc. to Ramon Ang | ANC
San Miguel Corporation announced that Ang is scheduled to brief its board of directors on the acquisition details during its upcoming meeting on August 13, 2026. Market observers will watch that briefing for additional clarity on how the investment intersects with wider regional infrastructure and energy interests.
