DFI Retail Group Divests Shares in Robinsons Retail
- Written by Media Outreach
DFI first became a significant minority shareholder in RRHI in 2018 through the share-for-share swap transaction involving Rustan Supercenters, Inc.
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 - but not be limited to - expanding digital retail media, advancing own brand innovation, and enhancing omnichannel capabilities across its key markets.
DFI remains confident in RRHI's long-term prospects and the continued success of their exclusive distribution of Meadows and Guardian brands.
Scott Price, Group Chief Executive of DFI Retail Group, said, "We would like to sincerely thank the Robinsons Retail team for their hard work, partnership, and commitment over the years. Our collaboration has been instrumental in growing our presence in the Philippines, and we look forward to continuing this strong relationship as we each focus on our strategic priorities."
"This transaction represents a significant step in our evolution as an operating company, enabling us to redeploy capital to support growth and enhance shareholder returns across our subsidiary businesses. We will evaluate the deployment of divestment proceeds to ensure alignment with our capital allocation strategy and long-term growth ambitions."
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.
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The issuer is solely responsible for the content of this announcement.
