THE infrastructure unit of Ayala Corp. (AC) is teaming up with Germany’s Brillant 1257 GmbH & Co. Vierte Verwaltungs Kg. (Brillant) to form a new holding company that will handle investments in the logistics sector.
In a disclosure to the stock exchange after Friday trading, Ayala Corp said its unit AC Infrastructure Holdings Corp. (AC Infra) will hold a 60% interest in the new firm, while the 40% balance will be held by Brillant.
The newly-incorporated firm will handle AC’s investments in courier and freight forwarding services, according to the disclosure.
AC’s partner for the venture is an affiliate of online fashion platform Zalora. In September 2017, the Ayala group also acquired a 49% stake in Zalora’s operator, Global Fashion Group, in a bid to ride the growth opportunities offered by e-commerce.
Earlier this year, AC Infra also announced that it will be investing in firms that offer fulfillment solutions services in partnership with Brillant.
The Ayala group has recently been ramping its logistics business. Prime Orion Philippines, Inc. (POPI) of Ayala Land, Inc. is being positioned as a developer of logistics facilities and industrial parks.
POPI acquired in April a majority stake in Laguna Technopark, Inc., which develops logistics facilities. The 460-hectare Laguna Technopark is located in Santa Rosa and Biñan.
Ayala Corp.’s net profit attributable to the parent rose 7% to P16.1 billion in the first six months of 2018, driven by a 20% increase in revenue to P148.7 billion.
Ayala Corp rose 1.01% or P10 to P1,000 in Friday trading. — Arra B. Francia
