Mitsubishi to Boost Stake in Philippines' Ayala in $709.5 Million Deal
The deal includes a voluntary tender offer for up to 30 million shares and lifts Mitsubishi’s voting interest to 20%, Ayala said.
10 Articles
10 Articles
Mitsubishi to raise Ayala stake through P 44.5-billion deal
MANILA, Philippines — Mitsubishi Corp. is investing about P44.5 billion to substantially increase its stake in Ayala Corp., deepening a partnership that has spanned more than five decades. On Monday, the Philippines’ oldest conglomerate said it had signed a definitive agreement with the Japanese giant. It covers a combination of primary and secondary shares, including a
Mitsubishi to triple stake in Ayala in P44.5 billion Philippines push
Mitsubishi Corp 8058.T will more than triple its stake in Ayala Corp AC.PS to 15% in a P44.5 billion ($709.48 million) deal, the Philippine conglomerate said on Monday, deepening the Japanese firm’s footprint in the country. At P650 per share, the deal values Ayala at about P403.27 billion, representing a nearly 22% premium to its last closing price. The Japanese trading house, which currently holds a stake of 4.7% according to […]
Mitsubishi to raise Ayala stake to 15% in P44.5-billion deal
Ayala expects to receive around P20 billion in fresh capital from the transaction, which it will use to reduce debt and continue its buying spree of what it deems as undervalued shares of Ayala and its listed subsidiaries
Mitsubishi to boost stake in Philippines' Ayala in $709.5 million deal
Sept 21 : Mitsubishi will raise its economic stake in Philippine conglomerate Ayala Corp to 15 per cent in a 44.5 billion Philippine peso ($709.48 million) deal to deepen the Japanese trading house’s partnership in the Philippines, the latter said on Monday.($1 = 62.7220 Philippine pesos)
Coverage Details
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
