Ayala buys Zalora stake, bets on e-commerce | ABS-CBN
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Ayala buys Zalora stake, bets on e-commerce
Ayala buys Zalora stake, bets on e-commerce
ABS-CBN News
Published Feb 23, 2017 03:59 PM PHT
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Updated Feb 23, 2017 04:48 PM PHT
MANILA - The Ayala Group said Thursday it would acquire 43.3-percent of online fashion retailer Zalora, as it forays into e-commerce.
MANILA - The Ayala Group said Thursday it would acquire 43.3-percent of online fashion retailer Zalora, as it forays into e-commerce.
Ayala Corp. and units Ayala Land, BPI Capital and Kickstart Ventures have signed an investment agreement with BF Jade E-Services Philippines Inc., the owner of Zalora Philippines, according to a stock exchange filing.
Ayala Corp. and units Ayala Land, BPI Capital and Kickstart Ventures have signed an investment agreement with BF Jade E-Services Philippines Inc., the owner of Zalora Philippines, according to a stock exchange filing.
The transaction is subject to the approval of the Philippine Competition Commission, Ayala Corp. said.
The transaction is subject to the approval of the Philippine Competition Commission, Ayala Corp. said.
Zalora is the country's largest online fashion retailer, offering some 120,000 products across 1,000 brands, according to the disclosure.
Zalora is the country's largest online fashion retailer, offering some 120,000 products across 1,000 brands, according to the disclosure.
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Ayala Corp. shares were up 1.49 percent to P817 on Thursday.
Ayala Corp. shares were up 1.49 percent to P817 on Thursday.
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