Mitsubishi to more than triple Ayala stake to 15%
Mitsubishi Corp will more than triple its stake in Ayala Corp to 15% in a 44.5 billion Philippine peso ($709.48 million) deal, valuing shares at 650 Philippine pesos each.
Mitsubishi Corp TSE:8058 said it will more than triple its stake in Ayala Corp PSE:AC to 15% in a 44.5 billion Philippine peso ($709.48 million) transaction, deepening the Japanese group's presence in the Philippines. The price is 650 Philippine pesos per share, according to the conglomerate.