Lucio Tan-led Tanduay becomes LT Group on Nov. 20
MANILA, Philippines - The new corporate name and stock exchange ticker symbol of the Lucio Tan group's holding firm will take effect on November 20.
In a statement on Tuesday, November 13, the Philippine Stock Exchange (PSE) announced that Tanduay Holdings Inc. will be renamed to LT Group Inc.
It's stock symbol will also change to LTG from the current TDY.
These changes are part of the group's efforts to consolidate the liquor maker Tanduay into a holding firm LT Group.
Tan's business assets -- Fortune Tobacco Corp., Asia Brewery, Inc., Paramount LandEquities, Inc. and Saturn Holdings, Inc. -- will be part of the holding firm's portfolio, while airline firms Philippine Airlines and budget carrier PAL Express are not.
The airlines are currently managed by diversified conglomerate San Miguel Corp. - Rappler.com