DFI Retail group sells 22.2% stake in Robinsons Retail Holdings

Proceeds will be used to support DFI’s capital allocation strategy.

DFI Retail Group Holdings Limited has sold 315.3 million shares in Robinsons Retail Holdings, Inc. (RRHI), representing 22.2% of RRHI’s outstanding shares.

The sale marks DFI’s shift from being a portfolio investor to focusing on operating its core businesses.

DFI became a minority shareholder in RRHI in 2018 through a share-for-share swap with Rustan Supercenters, Inc.

Proceeds from the sale will be used to support DFI’s capital allocation strategy, focusing on digital retail media, own-brand innovation, and omnichannel growth.

“This transaction represents a significant step in our evolution as an operating company, enabling us to redeploy capital to support growth and enhance shareholder returns across our subsidiary businesses,” said Scott Price, group chief executive of DFI Retail Group.

“We will evaluate the deployment of divestment proceeds to ensure alignment with our capital allocation strategy and long-term growth ambitions,” he added.

The sale was completed via a special block sale on the Philippine Stock Exchange based on market conditions.