Ayala nears deal to exit LRT 1

Zobel family-led Ayala Corp. is closing in on the sale of its 35 percent stake in the Light Rail Transit (LRT) Line 1 and other non-core assets as the country’s oldest conglomerate looks to surpass the $1-billion fundraising goal it had set two years ago. Alberto de Larrazabal, chief finance officer at Ayala, told reporters
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