Ayala boosts logistics business with purchase of 60% of Air21MANILA, Philippines — The Ayala Group, through its logistics arm AC Logistics Holdings Corp., is set to acquire a 60 percent interest in Air21 Holdings Inc., the holding company of businessman Alberto Lina, effectively expanding its footprint in the e-commerce and logistics space. AC Logistics signed an investment agreement with Lina, Air21 Holdings Inc., Airfreight 2100 Inc., Air 2100 Inc., UFreight Phils. Ayala Corp. president and CEO Fernando Zobel de Ayala said the partnership with Air21 Holdings gives AC Logistics an end-to-end logistics platform that is capable of serving the diverse supply chain requirements of high-growth industries and complements Ayala’s initial foray in logistics through Entrego. Lina said partnering with the Ayala Group is part of the transition of the business. AC Logistics president Rene Almendras said the decision to enter the logistics sector was a deliberate move on the part of the Ayala Group.

Source: Philippine Star November 13, 2021 03:53 UTC