Conglomerate Ayala Corp. said Thursday it is selling a 40-percent stake in subsidiary AC Logistics to Denmark-based A.P. Moller Capital.
A.P. Moller Capital is a foreign infrastructure fund focused on scaling critical infrastructure needs, particularly in transport and logistics as well as energy transition.
Ayala Corp. said the partnership with A.P. Moller Capital would allow AC Logistics to scale up its operations and enhance its service offerings, addressing the growing logistics needs of the fast-expanding economy.
It will also help improve food security across the country by supporting efficient supply chains.
“A country of 7,000 islands requires considerable logistics infrastructure, and we would like to help address this need. Working together with partners like A.P. Moller Capital, we believe we can provide real solutions,” said Ayala Corp. president and chief executive Cezar Consing.
AC Logistics, founded in 2021 as a wholly-owned subsidiary of Ayala Corp., offers customers integrated solutions centered around cold chain, contract- cross border- and project logistics.
“AC Logistics has, in a short period, grown to be an important player in the logistics sector in the Philippines. We are proud and looking forward to work alongside AC Logistics and Ayala Corporation to accelerate growth and continue to provide customers with market leading supply chain solutions – in short, doing well while doing good,” said Lars Reno Jakobsen, senior partner of A.P. Moller Capital.
AC Logistics president and chief executive Erry Hardianto said the deal reflects Ayala’s strong commitment to growing AC Logistics into an industry leader that will deliver high-quality logistics solutions for the Philippines.
“We are confident A.P. Moller Capital is the best partner for unlocking the many opportunities in this sector,” said Hardianto.
The deal still is subject to the parties agreeing on the final subscription price and several conditions precedent, including securing regulatory approvals and achievement of certain business milestones.
AC Logistics operates a nationwide network of distribution centers. It also has an extensive fleet of transportation assets, including its own temperature-controlled trucks and an extensive network of agents enables ACL to fulfill client requirements across the Philippines.
