Ayala Corp., Mermac to boost Ayala Land's property holdingsUnder the transaction, AC will swap property assets valued at P17.28 billion for 309.6 million primary common shares in ALI. AC's ownership in the property subsidiary will inch up to 47.2% from the current 46.07% once the swap is completed. Under the transaction, AC will swap property assets valued at P17.28 billion for 309.6 million primary common shares in ALI. Meanwhile, Mermac will own 1.98 million more primary common shares in ALI which, in turn, will receive real estate assets worth P110.6 million. The stocks that ALI will issue to AC and Mermac will come from the unissued shares in the 1-billion common shares carve-out approved by ALI shareholders in 2014.

Source: Philippine Star January 22, 2022 00:04 UTC