PHLOREN’S BOY is now among The Big Boys & is playing with his version of Toys for the Big Boys.
The estate is part of the Roxas Haciendas in Batangas owned by RCI or Roxas & Co. Inc. and Roxas Holdings Inc. (RHI) both of which Senator Loren Legarda’s son Leandro Leviste has acquired a significant stake in.
The acclaimed solar farm boy son of a Senator has recently fashioned himself into a corporate raider with the heavily idebted — BUT ULTRA REAL ESTATE RICH — RHI and RCI of the old money Tisoys Roxas-Elizalde clan as his first target.
Leadro’s hostile corporate takeover bid even sent the Tisoys scrambling to take necessary steps in order to maintain control of the companies they own who collectively own the real estate in question.
Those steps even made the Tisoys look amateurish earning a rebuke from regulators for violating disclosure rules while RHI and RCI shares listed in the Philippine Stock Exchange shot to the roof during the period.
What is interesting though, Leandro’s aggressive moves in acquiring a stake in both RHI and RCI came on the back of a DAR decision to return to the Roxas family more than 1,500 hectares of land in Batangas that have been previously awarded to Agrarian Reform beneficiaries who are now up in arms against the decision — or so we think.
In lieu of the said awarded parcels by DAR, the same beneficiaries were instead given different parcels presumably in different locations in a compromise agreement reached by both parties RCI and the Agrarian reform beneficiaries during a mediation facilitated by the Department of Agrarian Reform office sometime in January this year, settling the 40 some-odd-years case with finality.
Those beneficiaries including their local government officials are the ones who staged the rally in Makati asking for time and compensation while they move out of their residences previously awarded to them by DAR and transfer to the newly awarded properties by virtue of the compromise agreement they entered into this year to settle the case.
In the end the oligarchs are happy. The new oligarchs nouveau-rich are happy.
The lowly Pinoy peasant like us? Always left holding the empty bag.
Adios, patria adorada.
The estate is part of the Roxas Haciendas in Batangas owned by RCI or Roxas & Co. Inc. and Roxas Holdings Inc. (RHI) both of which Senator Loren Legarda’s son Leandro Leviste has acquired a significant stake in.
The acclaimed solar farm boy son of a Senator has recently fashioned himself into a corporate raider with the heavily idebted — BUT ULTRA REAL ESTATE RICH — RHI and RCI of the old money Tisoys Roxas-Elizalde clan as his first target.
Leadro’s hostile corporate takeover bid even sent the Tisoys scrambling to take necessary steps in order to maintain control of the companies they own who collectively own the real estate in question.
Those steps even made the Tisoys look amateurish earning a rebuke from regulators for violating disclosure rules while RHI and RCI shares listed in the Philippine Stock Exchange shot to the roof during the period.
What is interesting though, Leandro’s aggressive moves in acquiring a stake in both RHI and RCI came on the back of a DAR decision to return to the Roxas family more than 1,500 hectares of land in Batangas that have been previously awarded to Agrarian Reform beneficiaries who are now up in arms against the decision — or so we think.
In lieu of the said awarded parcels by DAR, the same beneficiaries were instead given different parcels presumably in different locations in a compromise agreement reached by both parties RCI and the Agrarian reform beneficiaries during a mediation facilitated by the Department of Agrarian Reform office sometime in January this year, settling the 40 some-odd-years case with finality.
Those beneficiaries including their local government officials are the ones who staged the rally in Makati asking for time and compensation while they move out of their residences previously awarded to them by DAR and transfer to the newly awarded properties by virtue of the compromise agreement they entered into this year to settle the case.
In the end the oligarchs are happy. The new oligarchs nouveau-rich are happy.
The lowly Pinoy peasant like us? Always left holding the empty bag.
Adios, patria adorada.
