Ayala, ALI, Mermac close P17.2-B deal

By Ed Paolo Salting

Jan 14, 2023 12:14 am

Securities and Exchange Commission (SEC) approval of a shares-for-property swap has allowed Ayala Corp., Mermac Inc. and Ayala Land Inc. (ALI) to complete a P17.2-billion transaction.

In a disclosure, Ayala Corp. said the move was part of a strategic initiative to raise its ownership stake in ALI, which rose to 50.6 percent.

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