(Last Updated On: August 31, 2022)
Logistic corporation (ALLHC) under Ayala Corporation (AC) reach a deal to acquire 60% of Mr. Alberto D. Lina’s AIR21 Holdings Inc, through issuance by Mr. Lina of an exchangeable note to AC Logistics and AC Logistics’ subscription to primary shares of AHI.
The deal was sealed last August 30, 2022, AC Logistics and Mr. Lina reached financial close for the acquisition by AC Logistics of a 60% interest in AHI, amounting to a total of Php 6 billion, through issuance by Mr. Lina of an exchangeable note to AC Logistics, and AC Logistics’ subscription to primary shares in AHI.
According to AC recent disclosure on PSE edge;
The acquisition in AHI gives AC Logistics, through the various subsidiaries of AHI, an end-to-end logistics platform capable of serving the supply chain requirements of multiple industries in high-growth markets. The AIR21 Group is engaged in a broad range of supply chain services covering, door-to-door express delivery, international and domestic freight forwarding, warehouse operations, management, and digitization, and waste logistics management.
AHI is a holding company that owns majority interest in AIR21, AIR21 Subic, U-Freight, U-Ocean, CHI, LGC, WARM and IWMI. These companies provide a broad range of logistics services that include door-to-door express delivery, international and domestic freight forwarding, warehouse operations, management, and digitization, and waste logistics management.
Terms of Transactions for the share swap agreement with AHI
The investment in AHI will provide AC Logistics with an end-to-end supply chain platform that is capable of servicing the needs of growing and evolving industries and ecosystems.
The addition of the AIR21 Group to the AC Logistics portfolio, together with Entrego, creates synergies that can potentially generate greater operational efficiency and more efficient asset utilization. The combination of their respective capabilities puts the Ayala Group in a better position to provide technology driven end-to-end logistics services that can help address some of the challenges related to pharma and healthcare aides access, food preservation, and proper waste management according to AC logistics President and CEO Rene Almendras.
Shares of AC logistics holdings is currently up by 3% upon market opening.
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