Ayala said in a disclosure to the stock exchange it signed an investment agreement with Prime Asset Ventures Inc. of the Villar Group over the sale its 100-percent ownership in MCX Project Company Inc.
“The transaction also supports the conglomerate’s target to raise $1 billion from value realization initiatives by 2023, which is executed through a combination of strategic partnerships and divestment of certain non-core assets,” Ayala said.“The proceeds will be used to fund future investments and further strengthen the company’s balance sheet,” it said.
Ayala signed in 2012 a 30-year concession agreement for the operation of MCX Expressway. It invested P2.2 billion for the project including a P902-million cash payment to the government.
The Ayalas aren't really into retail and roads. Not their core competence.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ayala selling MCX Expressway firm to Villar Group for P3.8 billionConglomerate Ayala Corp. said Friday it is selling its entire stake in the company that operates the Muntinlupa-Cavite Expressway project to the Villar group for P3.8 billion. Read more here:
Source: MlaStandard - 🏆 20. / 55 Read more »
Ayala firm moves petroleum drilling in Palawan to next yearWith the approval granted by the Department of Energy on its bid for force majeure declaration at its prospect area, Ayala-led ACE Enexor Inc. will be moving to April next year its targeted well drilling at its petroleum block in southwest Palawan basin. Wag maniwala dito sa MB na to. Super fake news peddler
Source: manilabulletin - 🏆 25. / 51 Read more »
Ayala selling MCX Expressway firm to Villar Group for P3.8 billionConglomerate Ayala Corp. said Friday it is selling its entire stake in the company that operates the Muntinlupa-Cavite Expressway project to the Villar group for P3.8 billion. Read more here:
Source: MlaStandard - 🏆 20. / 55 Read more »
Manila Water spent record P13.7b in 2021 to upgrade franchise areaManila water expands it service coverage by upgrading its franchise area, since the water demand is completely higher with the summer season. Tap for more:
Source: MlaStandard - 🏆 20. / 55 Read more »
Ayala firm moves petroleum drilling in Palawan to next yearWith the approval granted by the Department of Energy on its bid for force majeure declaration at its prospect area, Ayala-led ACE Enexor Inc. will be moving to April next year its targeted well drilling at its petroleum block in southwest Palawan basin. Wag maniwala dito sa MB na to. Super fake news peddler
Source: manilabulletin - 🏆 25. / 51 Read more »
Ukrainian theater sheltering 'more than a thousand' civilians bombedUkraine claimed Thursday that Russia had destroyed a theater harboring more than a thousand people in the besieged southern port city of Mariupol, with the toll as yet unknown. Sus. Di nga maipakita yung image after the bombing. Sinasalsal niyo na naman ang propaganda.
Source: gmanews - 🏆 11. / 68 Read more »