Mitsubishi Corp to raise Ayala Corp stake to 20% in ¥120B deal; Ayala to get ~₱20B for debt, buybacks

Mitsubishi Corp agreed to invest about ¥120B (roughly ₱44.5B) in Ayala Corp, raising its stake from 5.4% to 20% and making the Philippine conglomerate an equity-method affiliate. Ayala expects around ₱20B in fresh capital from the deal, which it will use to cut debt and buy undervalued shares in itself and its listed subsidiaries.

Detected & updated continuously · Source: Nebula