DFI Retail Group Holdings divests its stake in Robinsons Retail Holdings worth 315.31 million common shares, about 22.2% of the company’s outstanding shares.
The transaction was executed via a special block sale on the Philippine Stock Exchange, with pricing agreed upon based on prevailing market conditions and strategic considerations.
Following this divestment,the group will review the use of the divestment proceeds to support its capital allocation strategy and long-term growth priorities which include expanding digital retail media, advancing own brand innovation, and enhancing omnichannel capabilities across its key markets.
DFI says that this transaction reflects its strategic pivot from a portfolio investor to a focused operating company, enabling the group to divest minority positions and redeploy capital to support the growth and higher returns of subsidiary businesses.
DFI first became a significant minority shareholder in RRH in 2018 through the share-for-share swap transaction involving Rustan Supercenters Inc.
Shares in DFI Retail Groupclosed 8 US cents higher or 2.985% up at US$2.76 on May 30.
