Robinsons Retail Holdings, Inc. completed the acquisition of Rustan Supercenters, Inc. from Mulgrave Corporation B.V. for PHP 18 billion.
November 22, 2018
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Robinsons Retail Holdings, Inc. (PSE:RRHI) signed an agreement to acquire Rustan Supercenters, Inc. from Mulgrave Corporation B.V. for PHP 18 billion on March 23, 2018. The consideration comprises issuance of new primary shares of Robinsons Retail Holdings, Inc., representing 12.15% of its enlarged share capital. Dairy Farm International Holdings Limited, parent of Mulgrave Corporation B.V. also agreed to acquire a further 6.1% interest in Robinsons Retail Holdings, Inc. For the year ended December 31, 2017, Rustan Supercenters, Inc. reported sales of PHP 22 billion. On completion of the transaction, Dairy Farm International Holdings Limited will have the right to nominate two directors to the Board of Robinsons Retail Holdings, Inc. The deal is subject to shareholders of Robinsons Retail Holdings, Inc.in meeting due on May 28, 2018, the Philippine Competition Commission and the Securities and Exchange Commission. The Boards of Directors of Robinsons Retail Holdings, Inc. and Mulgrave Corporation B.V approved the deal. The deal is expected to close in four to six months after signing the agreement. As on May 28, 2018, the shareholders of Robinsons Retail Holdings approved the issuance of 0.19 billion new common shares as payment for the transaction.
Robinsons Retail Holdings, Inc. (PSE:RRHI) completed the acquisition of Rustan Supercenters, Inc. from Mulgrave Corporation B.V. for PHP 18 billion on November 23, 2018.
Robinsons Retail Holdings, Inc. is a Philippines-based multiformat retailer. The Company's divisions include Supermarket, Department Store, Do-It-Yourself (DIY), Convenience Store, Drug Store and Specialty Store. The Supermarket division operates under five formats: Robinsons Supermarket, Robinsons Easymart, The Marketplace, Shopwise and No Brand. The Department Store division includes Robinsons Department Store, which offers local and international brands that are grouped into categories, such as shoes, bags and accessories (including beauty and personal care), ladies' and men's wear, children's wear, household items and others. The DIY division includes brands, such as Handyman Do it Best, True Value and True Home. The Convenience Store division operates Uncle John's, which is a 24-hour convenience store chain. The Drug Store division operates three formats: South Star Drug, Rose Pharmacy and TGP. The Specialty Store division is the lifestyle arm of the Company.
ROBINSONS RETAIL HOLDINGS, INC. 
