UPDATE: Jose Rene Almendras and John Eric Francia have been appointed as co-presidents and CEOs of Ayala's new company, AC Energy and Infrastructure Corp (ACEIC). | via RalfRivas READ:
MANILA, Philippines – A massive company is expected to emerge from, the country's oldest conglomerate, as it consolidates its energy, water, transportation, and logistics businesses under one holding company.
In a disclosure to the Philippine Stock Exchange on Monday, April 20, Ayala said the integrated infrastructure company will house two listed companies – AC Energy Philippines and Manila Water – as well as unlisted AC Infrastructure Holdings. Ayala said it would use AC Energy as the vehicle for the consolidated entity, which will be renamed to AC Energy and Infrastructure Corporation.
"We believe that consolidating our various infrastructure interests creates a formidable platform with a strong balance sheet and allows Ayala to participate in the many opportunities in infrastructure development in a more significant way," Ayala chairman and chief executive officer Jaime Augusto Zobel de Ayala said.
The new company joins the Ayala empire, which also includes Ayala Land, Bank of the Philippine Islands, and Globe Telecom.port and gaming tycoon
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