BRIEF-Ayala Land Approves Property-For-Share Swap With Ayala Corporation And Mermac

Jan 21 (Reuters) – Ayala Land Inc ALI.PS:

• APPROVED A PROPERTY-FOR-SHARE SWAP WITH AYALA CORPORATION (AC) AND MERMAC, INC. (MERMAC)

• UNDER TRANSACTION, AC AND MERMAC WILL TRANSFER ASSETS TO ALI IN EXCHANGE FOR ITS PRIMARY COMMON SHARES

• AC WILL SUBSCRIBE TO 309.6 MILLION PRIMARY COMMON SHARES FOR ASSETS VALUED AT 17.28 BILLION PESOS

Source text for Eikon: ID:nPSX459QgK

Further company coverage: ALI.PS

((Reuters.Briefs@thomsonreuters.com;))