Mitsubishi to raise stake in Ayala to 15%
Mitsubishi Corp. will raise its stake in Ayala Corp. to 15% in a deal worth more than $700 million, acquiring shares at 650 Philippine pesos each.
Mitsubishi Corp. is increasing its stake in Ayala Corp. to 15% in a deal worth more than $700 million, strengthening its relationship with one of the Philippines' largest conglomerates as it backs economic growth. The Japanese trading house will buy Ayala shares at 650 Philippine pesos each.