Paul Hastings, a leading global law firm, announced today that it represented CLSA Limited as the sole placing agent in Ayala Corporation’s approximately US$79 million (PHP3.4 billion) treasury share block sale. Ayala Corporation is one of the Philippines’ largest conglomerates, with interests in real property, banking, telecommunications, water, infrastructure and energy.
Ayala Corporation intends to use the raised cash proceeds to fund existing and potential sizable projects in the infrastructure and power sectors. The company is looking to invest up to US$1 billion over the next five years in these sectors.
The Paul Hastings team was led by partners Patricia Tan Openshaw and Steven Winegar with support from associate Jordan Baggs.
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