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Ayala readies sale of rail, energy assets

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' Ayala readies sale of rail, energy assets ' Conglomerate Ayala Corp. will divest from remaining thermal energy businesses, its stake in Light Railway Transit Line 1 and other passive investments under AC Ventures, and other non-core assets-- Read more👇

passive investments under AC Ventures, and other non-core assets by 2023 as part of a plan to raise $1 billion from asset sales.

The conglomerate has reinvested $360 million of the proceeds to buy back shares in the company as well as property unit Ayala Land Inc. The conglomerate has allotted P12 billion to AC Health since 2015 to build a portfolio of assets in primary care and multi-specialty clinics, hospitals, retail pharmacy, pharmaceutical distribution and tele-health.

 

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