Ramon Ang, chairman and CEO of San MiguelJinggo Montenejo for Forbes AsiaBillionaire Ramon Ang—the controlling shareholder of Philippine infrastructure and brewery giant San Miguel—has in his personal capacity acquired a quarter of Lopez Inc., a private holding company that has interests in energy, media and real estate.Ang, who is chairman and CEO of San Miguel, acquired 25.7% of Lopez Inc. from one of the branches of the family, the tycoon and Eugenio Lopez III said in a joint statement, without giving the value of the transaction.The Lopez family’s business empire includes energy venture First Philippine Holdings, property developer Rockwell Land and ABS-CBN Broadcasting, once a Philippine media giant. First Gen, a key asset of First Philippine Holdings, owns the nation’s largest producer of geothermal energy Energy Development Corp.One of the oldest Philippine business dynasties, the family traces their roots to the 19th century and got their start in sugar and shipping and later evolved into power utilities, media and real estate. The family’s rise is closely intertwined with Philippine politics and the country’s economic history.“I have known the Lopez family for decades. Not one branch of it, but all of them. I am a friend to each, and I intend to stay that way,” And said in the statement. “I came in because I believe in these businesses, and because a steady partner at the table can be good for everyone around it.”Ang’s entry into Lopez Inc. has initiated a change in the board of First Philippine Holdings, which told the stock exchange its director Roberta Feliciano on August 9 has resigned from its board following the sale of Creme Investment’s shares in the private company to Ang. Feliciano is a sister of former ABS-CBN chairman Eugenio Lopez III.Closely held Lopez Inc. is also owned by the other members of the family, including its president Federico Lopez. Cousins Eugenio and Federico have been at odds over additional investments in ABS-CBN, which has accumulated losses of over 45 billion pesos ($741 million) since Congress didn’t renew its broadcasting franchise in 2020. The family feud erupted earlier this year and spilled over to battle for control of the holding company. MANILA, PHILIPPINES - AUGUST 28: Employees and supporters of ABS-CBN light candles in front of its main studio to show support as ABS-CBN News broadcast its final program on its free-to-air channel on August 28, 2020 in Manila, Philippines.Getty Images“The Lopez family’s entry into this partnership with [Ang] is truly a welcome development and in line with our history of partnering with recognized individuals and institutions to promote the growth of our businesses,” Federico said in a separate statement. “It’s a great step toward resolving issues that have affected our family as well as our businesses and can only be good for everyone.” Eugenio said his branch of the family divested from Lopez Inc. for two reasons and that Ang will be a good partner for the company.“The first is my family. This dispute has not been good for any of us, or for the people who work in our companies. This allows us to take a step towards restoration of family peace,” Eugenio said. “The second is that it allows me to channel our family resources into businesses aligned with our personal mission.”With an estimated net worth of $3.5 billion, Ang is the country’s third wealthiest, according to the Philippine Richest 50 list that was published by Forbes Asia this month. Federico Lopez and his family have a combined fortune of $290 million. MORE FOR YOU