A trader walks in front of the logo of the Philippine Stock Exchange (PSC) in Manila. AFP FILE PHOTO / JAY DIRECTO
MANILA, Philippines–Leading Philippine lender BDO Unibank has completed a deal to bring in a unit of Singapore-based private equity firm Archipelago Capital Partners Pte. Ltd. as a strategic investor in its Davao-based rural bank subsidiary One Network Bank Inc. (ONB).
In a disclosure to the Philippine Stock Exchange on Friday, BDO said it had completed a transaction to sell a 15-percent stake in the country’s largest rural bank to Archipelago unit Osmanthus Investment Holdings Pte. Ltd.
BDO expects the partnership with Osmanthus to further strengthen ONB’s strategic foothold in the microfinance business, thus, contributing to financial inclusion.
As a private equity firm, Archipelago Capital focuses on growth opportunities and high-potential small and middle market businesses, especially in the consumer, financial services and niche industrial sectors, in Southeast Asia. Its investment philosophy is centered on “active” ownership, with value driven through “creativity in strategy and excellence in execution in all its investments.”
ONB became a BDO subsidiary in 2015 when the latter bought a controlling stake from the Consunji family for some P6.67 billion. (Editor: Jonathan P. Vicente)
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