Philippines’ Ayala expands into Myanmar

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Philippine holding company Ayala Corp. is taking a stake for $237.5 million stake in Yoma Group, a family business in Myanmar focusing on finance and investment headed by tycoon Serge Pun. It is the largest Philippine corporate investment in Myanmar so far.

Ayala said in a stock exchange filing that it will acquire a 20-per cent stake in Pun’s Singapore-listed Yoma Strategic Holdings and 20 per cent of Yangon-listed First Myanmar Investment, and will take a seat on each of the company’s boards. The deal therefore values Pun’s two companies at about $1 billion combined.

The Yoma Group has interests that span property, banking, automotive, healthcare, power and tourism. Those align with Ayala’s own consumer, property manufacturing and infrastructure businesses, Ayala chairman and CEO Jaime Augusto Zobel de Ayala said.

He noted that Ayala said Myanmar, which transitioned to democratic rule less than a decade ago, was one of the fastest growing countries in the region and remains underpenetrated. Furthermore, Myanmar’s economic profile also shares similarities to the Philippines in that both have young growing populations, robust consumer markets and support from workers overseas.

Melvyn Pun, Yoma Strategic’s chief executive and Serge Pun’s son, said that the deal “gives our companies flexibility to expand our business and that they will be looking to leverage their experience and skills from the Philippines to grow in Myanmar.”

Ayala, which last year began hunting for acquisition opportunities outside the Philippines, has meanwhile established a presence in Indonesia, Vietnam and China, as well as Australia, Europe, the US and Mexico.

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Philippine holding company Ayala Corp. is taking a stake for $237.5 million stake in Yoma Group, a family business in Myanmar focusing on finance and investment headed by tycoon Serge Pun. It is the largest Philippine corporate investment in Myanmar so far. Ayala said in a stock exchange filing that it will acquire a 20-per cent stake in Pun’s Singapore-listed Yoma Strategic Holdings and 20 per cent of Yangon-listed First Myanmar Investment, and will take a seat on each of the company’s boards. The deal therefore values Pun’s two companies at about $1 billion combined. The Yoma Group has interests...

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Philippine holding company Ayala Corp. is taking a stake for $237.5 million stake in Yoma Group, a family business in Myanmar focusing on finance and investment headed by tycoon Serge Pun. It is the largest Philippine corporate investment in Myanmar so far.

Ayala said in a stock exchange filing that it will acquire a 20-per cent stake in Pun’s Singapore-listed Yoma Strategic Holdings and 20 per cent of Yangon-listed First Myanmar Investment, and will take a seat on each of the company’s boards. The deal therefore values Pun’s two companies at about $1 billion combined.

The Yoma Group has interests that span property, banking, automotive, healthcare, power and tourism. Those align with Ayala’s own consumer, property manufacturing and infrastructure businesses, Ayala chairman and CEO Jaime Augusto Zobel de Ayala said.

He noted that Ayala said Myanmar, which transitioned to democratic rule less than a decade ago, was one of the fastest growing countries in the region and remains underpenetrated. Furthermore, Myanmar’s economic profile also shares similarities to the Philippines in that both have young growing populations, robust consumer markets and support from workers overseas.

Melvyn Pun, Yoma Strategic’s chief executive and Serge Pun’s son, said that the deal “gives our companies flexibility to expand our business and that they will be looking to leverage their experience and skills from the Philippines to grow in Myanmar.”

Ayala, which last year began hunting for acquisition opportunities outside the Philippines, has meanwhile established a presence in Indonesia, Vietnam and China, as well as Australia, Europe, the US and Mexico.

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