Ayala Corp was earlier said to be one in every of 3 local agencies looking to buy the Philippine and Indonesian geothermal belongings of US-based totally electricity company Chevron. The different two had been said to be Energy Development Corp. And Aboitiz Equity Ventures Inc.
Chevron is reportedly promoting off its Philippine and Indonesian geothermal assets for an aggregate amount of $2.5 billion in an effort to consciousness on its middle oil commercial enterprise.
Ayala Corp unit Manila Water Company Inc. Is targeting to unfold its water distribution enterprise throughout Southeast Asian countries, at the same time as belongings unit Ayala Land Inc maintains to leverage on the sturdy assets market in the Philippines.
In July, Ayala Corp raised P10 billion from the problem of constant-fee bonds due in 2023. The bond offer became the first tranche of its P20-billion fundraising program below shelf registration with the Securities and Exchange Commission.
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