By Tomas S. Noda III
The goal is to focus on Phoenix Petroleum’s core business and use some of the proceeds to pay existing debts.
The deal follows Ayala’s investment in ePharmacy startup Wellbridge Health.
Philippines: Ayala Land raising $596m; Threshold of M&A deals maintained at $19.9m
Cebu plans to use the proceeds to expand in key cities.
Ayannah had raised $1m Series A in 2015 from 500 Startups & Life.SREDA
The deal is meant to accelerate financial inclusion and upgrade payment services in the Philippines.
Both will explore business opportunities in sustainable F&B products.
His offer rivals a bid from a group led by billionaire Henry Sy.
VTE bought over 435 million shares of stock in BEC.
StartUp Village is expected to open new avenues for the development of innovative entrepreneurs that come up with game-changing products and services.