George Ty on the prowl for acquisitions
Armed with a strong balance sheet, GT Capital Holdings is eyeing acquisition opportunities in the financial services and infrastructure space to improve profitability.
GT Capital CFO Francisco Suarez Jr. said the company hopes to close investment deals next year.
The company recently raised P12 billion from the sale of preferred shares.
Of the total proceeds, P7.5 billion was used to prepay debt. The remaining P4.5 billion has been earmarked for strategic acquisitions.
GT Capital is a major conglometate with interests in market-leading businesses across banking, property development, automotive, life insurance and power generation.