Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

Ayala sells 40% of AC Logistics to Danish logistics giant

ACLOGISTICS.COM.PH

By Revin Mikhael D. Ochave, Reporter

DENMARK-BASED logistics giant A.P. Moller is acquiring up to 40% of Ayala Corp.’s logistics subsidiary AC Logistics Holdings Corp.

A.P. Moller Capital, through EMIF II Holding III B.V., will acquire the stake in AC Logistics under a share subscription agreement, subject to the final subscription price and the fulfillment of several conditions, including regulatory approvals and the achievement of certain business milestones, Ayala Corp. said in a regulatory filing on Thursday.

Ayala Corp. did not provide further details on the transaction.

A.P. Moller Capital, an affiliate of Danish logistics giant A.P. Moller Holding, is an infrastructure fund manager focused on scaling transport and logistics infrastructure as well as supporting the energy transition.

A.P. Moller Holding is the parent company of the A.P. Moller Group, whose portfolio includes A.P. Moller-Maersk, a global shipping and logistics provider.

“A country of 7,000 islands requires considerable logistics infrastructure, and we would like to help address this need. Working together with partners like A.P. Moller Capital, we believe we can provide real solutions,” Ayala Corp. President and Chief Executive Officer (CEO) Cezar P. Consing said.

Ayala Corp. said A.P. Moller Capital’s entry would strengthen AC Logistics’ ability to meet growing and increasingly complex logistics demands.

“This potential transaction with A.P. Moller Capital reflects Ayala’s strong commitment to growing AC Logistics into an industry leader that will deliver high-quality logistics solutions for the Philippines. We are confident A.P. Moller Capital is the best partner to unlock the many opportunities in this sector,” AC Logistics President and CEO Erry Hardianto said.

The deal comes months after Mr. Hardianto assumed leadership at AC Logistics in July last year, succeeding Jose Rene D. Almendras. Mr. Hardianto previously spent 23 years at Maersk.

Before joining AC Logistics, Mr. Hardianto led Maersk’s Asia-Pacific Regional Logistics Operations, overseeing the company’s businesses in Singapore, Thailand, Indonesia, and the Philippines.

“The entry of A.P. Moller, with its ties to global logistics giant Maersk, is sure to positively impact AC Logistics’ strategy for expanding its logistics business,” AP Securities, Inc. Research Head Alfred Benjamin R. Garcia said in a Viber message when sought for comment.

“While logistics is not considered one of Ayala’s core businesses, the company has identified it as a strategic sector for expansion,” he added.

Established in 2021, AC Logistics provides supply chain solutions, including cold chain services, freight forwarding, national distribution, and contract logistics.

The company operates a nationwide network of distribution centers and has access to a fleet of transportation assets, including temperature-controlled trucks and an extensive network of agents.

Ayala Corp.’s core businesses are in real estate, banking, telecommunications, and renewable energy. It also has a growing presence in healthcare, mobility, and logistics, along with investments in industrial technologies, education, and other ventures.

On Thursday, Ayala Corp. shares rose by 1.40% or P8 to P578 apiece.

    You May Also Like

    Stock Markets

    GILAS PILIPINAS will sport new gear and kits this year after an end to its long-time partnership with renowned sports brand Nike. In an...

    Stock Markets

    A worker uses a microscope at an electronics manufacturing assembly plant in Biñan, Laguna, April 20, 2016. — REUTERS EXPORTS to the US are...

    Stock Markets

    PHILIPPINE STAR/EDD GUMBAN THE PHILIPPINES saw a slight improvement in its ranking in a global corruption perceptions index by Transparency International, although its score...

    Stock Markets

    PHILSTAR FILE PHOTO THE PHILIPPINES had some of the most restrictive regulations for trade in services in 2024, particularly in terms of barriers to...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.