Lucio Tan sets landmark asset-consolidation plan

Business Mirror - One of the country’s richest men, Lucio Tan, is embarking on a landmark asset consolidation plan that will see his banking, tobacco, real estate, airline, beer and liquor empire all housed under one publicly-traded company.

Tan’s chosen firm is listed rum maker Tanduay Holdings Inc., which will be renamed into LT Group Inc., a filing to the Philippine Stock Exchange late Tuesday showed.

Once completed by the September target, the transaction would create one of the country’s biggest conglomerates with a coveted mix of consumer-related investments.

Analysts said the consolidation is likely a form of estate planning for the 78-year-old taipan, whose humble beginnings as an immigrant from China have garnered as much attention as the multi-billion dollar business group he would one day establish.

Forbes Magazine recently ranked him as the Philippines’s second richest man—just behind SM Group founder Henry Sy— with a fortune estimated at $4.5 billion.

Based on the disclosure, LT Group will acquire unlisted Tan companies like Asia Brewery Inc. and Fortune Tobacco Corp. Also to be acquired are listed Eton Properties Philippines Inc., Philippine Airlines and its low-cost unit Air Philippines.

Tan’s two banks, namely, Philippine National Bank (PNB) and Allied Banking Corp., which will be merged, are also set to be acquired by LT Group Inc.

“As a representative of the Philippine economy, it will be a very attractive company. The problem is what the valuation will be,” Joseph Roxas, president of stock brokerage firm Eagle Equities Inc., said in a phone interview.

Trading of Tanduay’s shares were halted Wednesday ahead of the announcement. The company last closed at P5.10 per share, giving it a market value of P20.30 billion.

Based on the disclosure, Tanduay will acquire 90 percent of Asia Brewery, the maker of Manila Beer, Colt 45 and Coors, via a cash subscription of P1.8 billion, or P1 per share based on par value. Asia Brewery also owns firms that produce the Cobra energy drink and Absolute distilled drinking water.

Tanduay is also buying 83 percent of Fortune Tobacco for P1.64 billion, also at P1 per share, in a cash subscription. Fortune Tobacco owns 49.6 percent of PMFTC Inc., a venture with Philip Morris Philippines Manufacturing, which makes and distributes brands Philip Morris, Marlboro, Hope, Champion and Fortune brands.

Moreover, Tanduay will acquire 98.1 percent of Eton Properties, a listed property developer with projects in Metro Manila and a township development in Laguna province, via the acquisition of its unlisted parent companies.

The company did not disclose financial details on Eton's transaction and other publicly listed companies involved in the deal. Eton had a market value of P4.6 billion on Tuesday.

The disclosure also said that 49.84 percent of flag carrier Philippine Airlines Inc. and 50.97 percent of Air Philippines will be acquired by LT Group. Tan’s partner in both airlines is conglomerate San Miguel Corp., which has vowed to bring the Asia’s oldest carrier back into the black by the second year of its takeover.

PAL Holdings Inc., the listed owner of both airlines, had a market value of P39.58 billion on Tuesday.

Tanduay said it is buying 34.79 percent of PNB by acquiring 11 holding companies that own the stake and 27.62 percent of Allied Banking by buying out two firms that hold the stake. PNB had a market value of P49.6 billion, based on current prices.

“The board of directors believes that the enlarged portfolio will provide the corporation with significant opportunities for synergies and business growth,” Tanduay said in its disclosure.

It said proceeds from a recent P5 billion  top-up equity sale will be used to finance these investments, altering the earlier use of proceeds intended to grow Tanduay’s liquor business.

For more details on Eton properties, you may e-mail reby_ramirez@yahoo.com or contact her at 0922.883.9308 / 0916.4044.555 / 0919.699.3572 / 4044-534.

For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.

SOHO meets Urban Convenience at 8 Adriatico

Philippine Star - The home is a haven for comfort, and the office is a place for work. But thanks to modern and chic Small Office Home Office (SIHO) units of 8 Adriatico, one can work and live in an upbeat yet corporate environment right at the heart of Manila.

Prime Home Office
The Lucio Tan-led Eton Properties Philippines, Inc. meets the market’s needs as it launches 8 Adriatico, a unique residential condominium with a SOHO feature.

Located at the heart of Manila along Padre Faura Street, 8 Adriatico is situated right beside Manila’s biggest mall, Robinsons Place Manila. This 42-storey high-rise development features SOHO units poised to cater to entrepreneurs and self-employed individuals. During the daytime, a SOHO unit functions as an office. At night, it serves as a comfortable home to relax and unwind.

According to Eton Senior Vice President for Business Development Prim Nolido, “8 Adriatico addresses the high demand for home office units in this part of Manila. With the growth of Small and Medium Enterprises (SMEs), the demand for more convenient corporate offices has been steadily surging, especially in places like Adriatico which has a high market potential for businesses because of its proximity to schools, government offices, malls and tourist hotspots.”

Polished, Distinct, Unique.
8 Adriatico houses distinct, spacious 25 sqm studio, 39 sqm 1-bedroom and 79 sqm 2-bedroom SOHO units. It mixes work ergonomics with elegant interiors in a corporate yet comfortable home office.

Views that distinguish Manila are scenes to behold at 8 Adriatico. As a 42-storey high-rise condominuim, 8 Adriatico holds breath-taking views of Manila Bay’s sunsets and Malate’s colorful avenues.

Unit owners can likewise unwind at the amenity area located at the sixth floor. Here, 8 Adriatico holds sparkling blue swimming pools, a well-equipped gym and a modern function room. Such an ambience inspires creativity and innovation for business owners.


Sound Investment
Aside from unmatched comfort and efficiency, 8 Adriatico’s residential and SOHO units further offer sound investment. Its accessibility to established city amenities keeps the units’ high investment value.

8 Adriatico sits in grandeur surrounded by tourist hotspots and national landmarks. Within a kilometer radius are historical sights like the Manila Cathedral, San Agustin Church, Fort Santiago and the National Museum. Five-star hotels also abound in the area. A few steps away are midnight parties that pulsate and color the nights along the streets of Malate. 8 Adriatico enjoys easy access to malls and commercial strips in the area. Its convenient location beside Robinsons Place Manila offer residents a privileged lifestyle of utmost ease.

With its efficiency, convenience and high investment value, 8 Adriatico is the ideal location to grow your business while living in unmatched comfort.

For more details on 8 Adriatico and Eton projects, you may e-mail reby_ramirez@yahoo.com or contact her at 0922.883.9308 / 0916.4044.555 / 0919.699.3572 / 4044-534.

For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.

Upscale 68 Roces not an ordinary luxury community

(The Philippine Star) Updated July 18, 2012 11:16 AM 

Eton Properties Philippines. Inc. is redefining upscale living in Quezon City with 68 Roces. The exclusive community’s distinct architecture, units and location cannot be seen in other property developments in the area making the residence a unique status symbol for its future homeowners.

The 3.3-hectare community shaping up along Roces Avenue possesses the modern contemporary look without the townhouse impression. Units are of three to four floors with an attic. Glass walls enhance the sophisticated design and allow natural sunlight to brighten virtually the entire interior. From within, the see-through walls not only give the elegant feel but also extended space to the already roomy units as the outside comes into view in near-panorama.

A 3-floor, 3-bedroom unit’s total floor area of at least 158 square meters is an unmatched size in other horizontal developments in Quezon City. It is only exceeded by the 68 Roces’ largest 4-floor, 4-bedroom corner units of 238 square meters. Generous vertical space is complemented by vertical expanse. The loft-like upper floors give the living, dining and kitchen areas a high ceiling, affording the unit added brightness and airiness. The four toilets and baths and one powder room stresses the spaciousnessof the units.
A 3-floor, 3-bedroom unit has three options for lounging, entertaining guest or small family socials. There is the living room in the ground floor, the loft in the second floor and the attic with its view of the community’s streets and
 residential clusters.

Even cars have twice the space for parking. The carport can accommodate two cars saving homeowners the trouble of parking while making the streets within 68 Roces an obstruction-free driveway.

68 Roces is located midway in Roces Avenue in the quiet side of the district.Such rare environment found only in Quezon City complements the relaxing and luxurious ambience within the gated community.

Homeowners and their children can enjoy in the modern clubhouse, swimming pools, playgrounds and other first-class amenities, including the signature green pathways.

68 Roces is very near schools and colleges like ImmaculateConceptionAcademy, St. PaulUniversity, Grace Christian and XavierSchool, as well as commercial centers like Eton Centris, SM North EDSA and Trinoma.
It is also just a stone’s throw away from premier medical institutions such as CapitolMedicalCenter, Philippine Orthopedic Center, St. Luke’s and Delos Santos hospitals.

No other townhouse community or subdivision in Metro Manila offers green pathways, a 2.5 meter wide grass-layered passageway between residential clusters connecting the entire neighborhood. Aside from serving as a backyard garden extension, the pathway acts as a buffer zone for adjacent structures while creating an air corridor to allow easy airflow movement between and inside the living room areas. The green pathways offer a different experience for unit owners and their family. It provides them a pleasant place to stroll around and relax. Moreover, it also gives them a safe venue where their kids can play freely and hassle-free.

While staying in the comfort of their homes or having fun at the clubhouse and other amenity areas, homeowners can have peace of mind, knowing the community is well-secured. The main gate along Roces Avenue and the gates along Scout Reyes and Scout Santiago Streets are guarded round the clock with CCTV cameras providing extra security. The entire community is protected by a high perimeter wall with electrified fence.

68 Roces is attracting homeowners from the upper class segment, including overseas residents who want to stay in a luxurious home. Three completed clusters (total of 17 units) were turned-over last May 2012. Another six residential clusters (total of 34 units) are for turnover in October while additional single-attached units are under construction.

Along with the 43 projects Eton launched in 5 years, 68 Roces showcases the company’s enviable track record of building extraordinary developments through innovative homes.

For more details on 68 Roces and other Eton Properties, you may e-mail reby_ramirez@yahoo.com or contact her at 0922.883.9308 / 0916.4044.555 / 0919.699.3572 / 4044-534.

For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.