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The Securities and Exchange Commission has approved the incorporation of AC Logistics Holdings Corp., Ayala Corp.’s investment arm for the logistics sector
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The SEC on September 6 approved the articles of incorporation and by-laws of AC Logistics, a wholly owned subsidiary of Ayala Corp.
The Securities and Exchange Commission (SEC) has approved the incorporation of AC Logistics Holdings Corp., which will serve as Ayala Corp.’s vehicle for investments in the logistics sector.
In a disclosure, Ayala Corp. said it received on September 8 the SEC approval of the articles of incorporation and by-laws of AC Logistics, a wholly-owned subsidiary of the conglomerate.
The SEC’s approval was made on September 6. No further details were provided.
Prior to the creation of AC Logistics, two of Ayala Corp.’s subsidiaries have already ventured into logistics.
In October 2018, the joint venture of AC Infrastructure Holdings Corp. and German firm Brillant 1257 GmbH & Co. Vierte Verwaltungs Kg. formally launched Entrego Fulfillment Solutions, Inc., a technology-driven end-to-end fulfillment solutions company.
READ: Ayala Corp enters logistics business with Entrego
Also in 2018, real estate arm Ayala Land Inc. bought a 63.9% stake in industrial leasing company Prime Orion Philippines, Inc. and in 2019 formally renamed it AyalaLand Logistics Holdings Corp.
READ: AyalaLand Logistics income up 59% in 1H
AyalaLand Logistics has principal business interests in holding companies, commercial leasing, industrial lot sales and development, and retail electricity supply.
Ayala Corp.’s business activities include real estate, financial services, telecommunications, water, industrial technologies, power, infrastructure, healthcare, education, and technology ventures.
