February 23, 2017
Ayala Corp. signed a deal recently to get 43.3 percent ownership in BF Jade E-Service Philippines, which owns and operates Zalora Philippines, the country’s biggest online fashion platform.
In a disclosure to the Philippine Stock Exchange on Thursday, Ayala Land Inc., BPI Capital Corp and Kickstart Ventures Inc also took minority partnership stakes in BF-Jade.
BPI Capital Corp. and Kickstart Ventures are wholly-owned subsidiaries of BPI and Globe Telecom Inc.
“The acquisition is part of Ayala’s strategy to invest in new disruptive businesses that provide innovative solutions in evolving markets. The group recognizes that e-businesses is a unique growth channel that complements existing business, drawing on synergies with the rest of the Ayala group,” a statement by Ayala Corp. said.
“With resources in banking, real estate and telecommunications, the investment presents new opportunities for Ayala to generate synergies throughout the e-commerce value chain,” said Jaime Augusto Zobel de Ayala, chairman and chief executive officer of Ayala Corp. DMS
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