Gaisano buys into AB Capital

MANILA, Philippines - Vicsal Investment Inc. (Vicsal) acquired a stake in AB Capital and Investment Corp. (AB Capital) through a share purchase agreement with the Philippine Investment Management (Phinma) Inc. Vicsal Investment is a wholly-owned subsidiary of Vicsal Development Corp., a private corporation owned by the Gaisano family of Cebu, whose various business interests include the areas of retailing (Metro Gaisano department stores and supermarkets), property development (Taft Property Venture & Development Corp.), banking (Wealth Development Bank), stockbrokerage (Vicsal Securities and Stock Brokerage, Inc. and VSec.Com Inc.), mutual fund (Filipino Fund, Inc.) and pawnshop and financing business (Prime Asia Pawn & Jewelry Shop Inc). Frank S. Gaisano is Vicsal Investment chairman while Senen L. Matoto, former vice chairman and executive director of BPI Capital Corp. and chairman and president of BPI Securities Corp., is president. The AB Capital Group is one of the Philippines’ leading financial services institutions focused on the capital markets. AB Capital & Investment Corp. (ABCIC) is an investment house that has built its capability on three major areas of strength: corporate finance, fixed-income securities dealership and fund management.