Friday 20 July 2018
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4 months ago

Mitsubishi cuts stake in Ayala

Japanese trading giant Mitsubishi Corp. has trimmed its stake in the Philippines oldest conglomerate Ayala Corp. with the sale of P7.94 billion worth of shares, seen as part of its portfolio rebalancing. Mitsubishi unloaded 8.5 million common shares of Ayala at P934 per share in an equity deal arranged by Swiss investment house UBS, industry sources familiar with the transaction said yesterday. As Mitsubishi s shares are part of the nonpublicly traded shares of Ayala, this transaction is seen to boost

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