This is part of the Sy-blings’ sale of a controlling stake in the BDO subsidiary to an investment group led by Vittorio P. Lim (33%),the nephew of Philippine Stock Exchange director Vivian Yuchengco, and Luis N. Yu, Jr., the owner of mass housing developer 8890 Holdings.
Aside from the name change, the BDO Leasing board approved amendments to its articles of incorporation, including its office transfer to Galleria Corporate Ceter in Ortigas.
These moves are part of the Sy-bling’s sale of 88.54 percent of BDO Leasing to the Lim-Yu group for P5.451 billion in a deal signed in January 2020. The Sy-blings have formed a new subsidiary, BDO Finance Corp., to take over the leasing and finance business.
Lim is president of Apollo Global Capital, Inc. and a director of Pacifica Holdings, Inc., both publicly-listed firms. Yu is chairman emeritus of 8890 Holdings which controls Pacifica.
Apollo used to be Yehey! Corp. while Pacifica used to be a shell mining firm.