Ayala to Cut Debt, Buy Undervalued Units With $700 Million Mitsubishi Proceeds

Bloomberg·23 Sep 2026·

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Ayala Corp. will use the $700 million raised from a share sale to Mitsubishi to cut debt, acquire shares in undervalued listed units and grow its businesses, President and CEO Cezar Consing said. Of the roughly 45 billion pesos represented by the $700 million, 20 billion pesos will go to Ayala Corp. through a share issuance, while another 20 billion pesos will fund a tender offer conducted on Mitsubishi's behalf for up to 20 billion shares at 650 pesos a share, the same price as the primary placement. Ayala is expanding its board from seven to nine seats, with Mitsubishi taking two, and the Japanese conglomerate will send about a dozen people to be placed at Ayala Corp. and key operating companies. The two firms have identified real estate, energy, fintech and financial services, mobility, logistics and AI as segments for joint projects, and will aim to build an ecosystem across those assets. Consing said the $700 million investment, about 120 billion yen, is the largest foreign direct investment the Philippines has received year to date, and noted Mitsubishi's stake had fallen to 4.7% from a peak of 20%.

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