Robinsons Retail Holdings Inc. is moving closer to delisting from the Philippine Stock Exchange as its parent company, Gokongwei-led JG Summit Holdings, moves to take the retail arm private. The company has filed a tender offer to buy out minority shareholders at a price of P66 per share, according to a report from MSN.
The delisting follows a strategic review by JG Summit, which sees value in consolidating its retail operations privately. Robinsons Retail operates supermarkets, department stores, and specialty retail stores across the Philippines.
If approved, the delisting would end Robinsons Retail’s public listing and give JG Summit full control. Shareholders must tender their shares by the deadline to receive the offer price.