Philippine conglomerate Ayala Corp acquires Silicon Valley solar firm Merlin Solar

Philippine conglomerate Ayala Corp acquires Silicon Valley solar firm Merlin Solar

Visual from Merlin Solar's website

Listed conglomerate Ayala Corporation has acquired a controlling stake in Silicon Valley-based firm Merlin Solar Technologies for an undisclosed amount, according to a disclosure on the Philippine Stock Exchange.

The transaction, which was done through Ayala’s wholly owned subsidiary AC Industrial Technology Holdings Inc (AC Industrials), expands the conglomerate’s footprint in solar energy.

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