Lucio Co considers takeover of Ferrari-Maserati-Jaguar-Land Rover dealership

AUTOSTRADA Motore Inc.’s Marc and Jason Soong.

Retailer and banker Lucio Co has expressed keen interest in taking over the dealership of Ferrari, Maserati, Jaguar and Land Rover from affable car connoisseur Willy Soong.

A buzzard from Co’s group confirmed that the Filipino-Chinese businessman—number 12 on Forbes list of Filipino billionaires with a net worth $1.7 billion —had indeed been intrigued at the prospect of owning the rights to peddle some of the world’s famous, luxury automobile brands.

But our buzzard said Co had so far made no commitment.

Biz Buzz reported that Soong had quietly made it known to a few friends that he was willing to let go of his exclusive dealership for these exotic cars. Soong has yet to make any comment.

Our buzzard told us that Soong approached PBCom late last year for an additional credit line. The buzzard did not say for how much Soong was asking and whether it was granted. Co is the single biggest shareholder of PBCom following his purchase of shares held by Marcos trade minister Roberto V. Ongpin.

Co built the low-brow Puregold supermarket chain into the country’s second-largest retailing group behind SM of the richest Filipino Henry Sy.

Should Co decide to swoop down on Soong’s baby, will his Midas touch work with the hoity toity as well as it did with the hoi polloi? Gil Cabacungan