The divestment will enable DFI to redeploy capital to support growth and enhance shareholder returns across its subsidiaries, says group
[SINGAPORE] DFI Retail Group said on Friday (May 30) that it has divested 22.2 per cent – or about 315.3 million – of Robinsons Retail’s outstanding shares for an undisclosed sum.
DFI became a significant minority shareholder in Robinsons Retail in 2018 through a share-for-share swap transaction involving Rustan Supercenters. Rustain Supercenters is an operator of food retail formats and supermarkets in the Philippines.
“This transaction reflects DFI’s strategic pivot from a portfolio investor to a focused operating company, enabling the group to divest minority positions and redeploy capital to support the growth and higher returns of subsidiary businesses,” it said.
Following this divestment, DFI said it will review the use of the divestment proceeds to support its capital allocation strategy and long-term growth priorities. These include, but are not limited to, expanding digital retail media, advancing own-brand innovation, and enhancing omnichannel capabilities across its key markets.
The group added that it remains confident in Robinsons Retail’s long-term prospects and the “continued success” of their exclusive distribution of the Meadows and Guardian brands.
Scott Price, DFI Retail’s group chief executive, said its collaboration with the Robinsons Retail team has been “instrumental” in growing the group’s presence in the Philippines, with the transaction representing a “significant step” in DFI’s evolution as an operating company.
The transaction was executed via a special block sale on the Philippine Stock Exchange, with the agreed price based on prevailing market conditions and strategic considerations, the group stated.
Shares of DFI closed at US$2.76, up US$0.08 or 3 per cent on Friday, before the announcement.
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