Philippines’ Ayala looks to sell 50% stake in coal unit, shift to renewables

Coal mining in South Kalimantan, Indonesia. Photo: Dominik Vanyi/Unsplash

AC Energy Inc, part of Philippine conglomerate Ayala Corp, on Monday said it could sell a stake of up to 50 percent in its coal-fired energy unit, using funds from the deal to boost its renewables business in Southeast Asia.

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