Thursday 27 June
May 22, 2019 @ 15:03

Mitsubishi further trims stake in Ayala group

 

The country’s oldest conglomerate Ayala Corp. bought back P3.19 billion worth of shares from Japan’s Mitsubishi Corp.

Mitsubishi trims stake in Ayala

In a stock exchange filing, Ayala said it acquired 3.8 million of its shares from the Japanese trading giant at P833 each share.

“We value our relationship with Mitsubishi which remains as our second largest shareholder,” Ayala said.

Mitsubishi, Itochu, Sumitomo, Mitsui to invest $1.24B in PH – Lopez

This transaction completes Mitsubishi’s portfolio rebalancing exercise with regard to its Ayala stake, which now stands and will remain at around 6%.

Mitsubishi held as much as 20% in Ayala, a holding company, which is engaged in real estate, telecommunications, utilities, logistics, financial and insurance services.

Ayala Corp shares tank as Mitsubishi sells shares

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