Ayala takes 20% stake in Myanmar conglomerate 0 SHARES Share it! The Yoma Group, which is comprised of two holding companies, Singapore-listed Yoma Strategic Holdings Ltd. (YSH) and Myanmar-listed First Myanmar Investment Public Co. Ltd. (FMI), is selling a maximum 20 percent stake to Ayala for up to US$237.5 million, making Ayala the second largest investor in both entities. Ayala said in a statement that this is a milestone international transaction in its history, and the biggest ever Philippine conglomerate investment into Myanmar. “Our partnership with the Yoma Group gives Ayala a unique opportunity to participate in Myanmar’s growth story,” said Ayala Chairman & CEO Jaime Augusto Zobel de Ayala. Ayala can definitely move closer to this aspiration by working with a respected and diversified conglomerate in the region,” Zobel added.

Source: Manila Bulletin November 15, 2019 13:52 UTC