AC Industrial Technology Holdings, Inc., a wholly-owned subsidiary of conglomerate Ayala Corp., said on Monday it has acquired a 94.9 percent stake of German-based automotive supplier MT Misslbeck Technologies GmbH for 26.8 million euros (P1.49 billion).

The acquisition was made through AC Industrials (Singapore) Pte. Ltd., and will be subject to completion conditions and regulatory approval.

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