Byline: Ann Rozainne R. Gregorio
PRIVATE EQUITY group CVC Capital Partners will plunk in P4.96 billion in the Rizal Commercial Banking Corp. (RCBC), the country's fifth largest bank in asset terms, which will entitle it to a 15% stake and two board seats in the bank's 15-man board.
CVC's investment in the bank will complete RCBC's fund-raising exercise, as it gears up for expansion while bolstering its capital base in anticipation of Basel 3's stricter capital regime, but it will also dilute the Yuchengco Group's stake in its banking jewel.
Top officials of RCBC and CVC held signing ceremonies for the deal yesterday.
John Thomas G. Deveras, RCBC …