The Philippine Onion

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Posts Tagged ‘vic agustin’

Math lessons for Vic Mangosteen;business lessons from Danding Co(co)juangco

Posted by commiedyan on December 1, 2007

eduardo-cojuangco-jr.jpg

by Henry C. Bollas

Here’s the fruity Vic Mangosteen:

“EDUARDO Cojuangco Jr. borrowed P374 million from Cocobank to acquire the EnriqueZobel block in San Miguel Corp. in December 1983. As of yesterday’s market close, that 20 percent block, which paved the way for Cojuangco to eventually control the region’s largest food, beverage and packaging complex, was already worth about P18.8 billion, representing a 50-fold return in 24 years. Stated another way, Cojuangco saw his original investment, even during his exile years following the Marcos ouster, double every year.”

“San Miguel was trading at P22 a share when the hush-hush sale was being negotiated; Zobel, for still unknown reasons, did not seek any premium from Cojuangco for his block, according to the book, Boss Danding, by Earl G. Parreno.”

Hey thanks for the lesson Mangosteen, but your math is wrong and perhaps your politics is even Read the rest of this entry »

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