SM Investments Corp. of retail tycoon Henry Sy Sr. said it is open to taking minority positions on target companies for acquisitions.
SM Investments vice chairman Teresita Sy-Coson in an interview at the sidelines of Sustainability Summit held in Conrad Hotel in Pasay City that the conglomerate was keen on acquiring minority positions in companies that needed help and letting the owners take management control.
“What we will be doing is to do investment differently this time. For those (companies) that perhaps can grow with a little push then we will get minority positions instead of a majority where we will run,” Sy-Coson said,
“So most of the companies will be run by the main proponents,” she added.
SM Investments earlier announced plans to acquire a 34-percent stake in bakeshop chain Goldilocks after initially intending to acquire a majority stake.
“They are the ones running it. So we are okay,” Sy-Coson said.
SM Investments is also purchasing a 35-percent interest in logistics firm Airspeed.