Commission Decision No. 10-M-012/2020:
Proposed Acquisition by Victor Y. Lim Jr. and Vittorio S. Lim
of Shares in BDO Leasing & Finance, Inc.



The proposed transaction is the acquisition by Mr. Vittorio P. Lim, Mr. Victor Y. Lim, Jr., and Mr. Luis N. Yu, Jr. of 88.84% of the total outstanding capital stock of BDO Leasing and Finance, Inc. (BLFI) from BDO Unibank, Inc. (BDO Unibank) and its subsidiary BDO Capital & Investment Corporation (BDO Capital) under a Share Purchase Agreement.

Buyers Mr. Vittorio P. Lim, Mr. Victor Y. Lim, Jr., and Mr. Luis N. Yu, Jr., as an investor group, are involved in real estate development. In this transaction, the merger notification and review falls between BDO and the Lims.

Sellers BDO Unibank and BDO Capital are a full-service universal bank and investment house, respectively, in the Philippines. BDO Unibank’s operational portfolio includes corporate and consumer lending, deposit-taking, credit cards, foreign exchange, remittances, brokering, trust and investments, and commercial cash management services; while BDO Capital is engaged in the business of securities trading and underwriting, loan syndication, debt and equity placement, and financial advisory.

The acquired entity, BDO Leasing and Finance, Inc., is a publicly-listed company engaged in direct leases, real estate leases, as well as sale and leasebacks in the Philippines. The sale of this subsidiary is part of BDO group’s restructuring  in response to new accounting regulations for lease transactions and portfolio adjustments.

Download (Commission-Decision-No.-10-M-012-2020_LimYu-BDOFLI.pdf)