Ayala Corp said to eye $324 mil investment for 20% stake in Pun's Yoma Strategic and First Myanmar Investment, FT reports

Stanislaus Jude Chan
Stanislaus Jude Chan11/13/2019 11:53 PM GMT+08  • 3 min read
Ayala Corp said to eye $324 mil investment for 20% stake in Pun's Yoma Strategic and First Myanmar Investment, FT reports
SINGAPORE (Nov 13): Ayala Corporation, one of the oldest and largest conglomerates in the Philippines, is set to invest US$238 million ($324 million) to buy a 20% each in Singapore-listed Yoma Strategic Holdings and Yangon-listed First Myanmar Investment
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SINGAPORE (Nov 13): Ayala Corporation, one of the oldest and largest conglomerates in the Philippines, is set to invest US$238 million ($324 million) to buy a 20% each in Singapore-listed Yoma Strategic Holdings and Yangon-listed First Myanmar Investment (FMI), according to Financial Times.

Both companies are owned by Myanmar tycoon Serge Pun, the owner of one of Myanmar’s largest conglomerates, Serge Pun & Associates (SPA Group).

In a filing to SGX before market open on Nov 14, Yoma Strategic confirmed Ayala will be investing US$237.5 million in the two companies.

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