Leviste buys 7.55% stake in Roxas & Co.

Businessman Leandro Leviste said Tuesday he acquired a 7.55-percent stake in Roxas and Company Inc. , making him the second largest shareholder of the Roxas-led listed firm.

RCI, primarily owned by the Roxas Group, has interests in real estate and sugar businesses through its wholly-owned subsidiary Roxaco Land Corp. , and Roxas Holdings Inc. .RCI said it secured ownership rights over huge track of land in Batangas in February, after it ended a four-decade long land dispute with agrarian reform beneficiaries over its three haciendas – Palico, Banilad and Calaway.

RCI said it is now drafting and finalizing its plans on how to maximize value of the properties. Among its options include residential, commercial, industrial and tourism projects. Leviste is using the proceeds from the partial sale of his stake in SP New Energy Corp. to Meralco PowerGen Corp. and other investors.

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