Ayala sells interest in German company

By Ed Paolo Salting

Aug 23, 2023 12:32 am

AYALA Corp. is selling its entire stake in a German auto parts maker as part of an increased focus on its core businesses.

The sale of MT Technologies GmbH to another German firm, Callista Asset Management 18 GmbH, will result in Ayala unit AC Industrial Technology Holdings Inc. — and the conglomerate by extension — booking an approximate loss of 26 million euros (about $28.36 million or P1.6 billion).

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