Mitsubishi to triple stake in Ayala in $709.5 million Philippines push (updated)

Mitsubishi

21/09/2026 11:17

Adds details
Sept 21 (Reuters) - Mitsubishi Corp 8058.T will more than triple its stake in Ayala Corp AC.PS to 15% in a 44.5 billion Philippine peso ($709.48 million) deal, the Philippine conglomerate said on Monday, deepening the Japanese firm's footprint in the country.
At 650 Philippine pesos per share, the deal values Ayala at about 403.27 billion pesos, representing a nearly 22% premium to its last closing price.
The Japanese trading house, which currently holds a stake of 4.7% according to Ayala, will also increase its voting stake to 20% once the transaction is completed.
The expanded alliance will deepen cooperation in consumer-facing businesses, while the two companies will also pursue opportunities across Ayala's core real estate and energy businesses, Mitsubishi said.
The deeper partnership comes as Ayala prepares for a potential windfall from the IPO of GCash parent Mynt, which it co-founded and which last week received exchange approval for a listing of up to $1.47 billion, potentially the Philippines' largest.
Mitsubishi expects the transaction to be completed within fiscal 2026.
     
($1 = 62.7220 Philippine pesos)

 (Reporting by Anjali Singh in Bengaluru; Editing by Harikrishnan Nair and Janane Venkatraman)
 ((anjali.singh2@thomsonreuters.com;))