Ayala Corp. and Mitsubishi Corp. expand partnership via P44.5-billion investment

Ayala Corporation and Japan-based Mitsubishi Corporation have signed a definitive agreement to expand their long-standing partnership through a significant strategic investment. The transaction is valued at approximately P44.5 billion (roughly US$700 million), based on an agreed price of P650 per common share.

Under the terms of the deal, Mitsubishi will increase its economic ownership in Ayala from 4.7% to 15%, while its total voting stake will rise to 20% upon completion. The agreement includes a combination of primary share issuances and secondary share acquisitions, featuring a voluntary tender offer for up to 30 million shares at a premium to the recent market price.

Ayala expects to receive approximately P20 billion in fresh capital from the transaction. The conglomerate intends to use these funds to reduce debt, continue its share-purchase program, and fund future growth initiatives in sectors such as renewable energy, digital infrastructure, and urban development. The deal is expected to close within Mitsubishi’s fiscal 2026, subject to regulatory approvals and customary closing conditions.