Ayala divests 59% Integreon stake


CONGLOMERATE Ayala Corp. (AC) has divested its 58.71 percent stake in outsourcing firm Integreon Inc., reducing its exposure in the business process outsourcing (BPO) sector.

In a disclosure to the stock exchange, AC said its wholly owned subsidiary LiveIt Investments Ltd. has divested its 58.71 percent stake in Integreon —a British Virgin Islands (BVI) legal support BPO company—through a business combination transaction with Anchorage Merger Sub Ltd.

Anchorage Merger is also a BVI business company owned by IGL Services Ltd., which is a unit of certain private equity funds managed by NewQuest Capital Partners.

The business combination enabled LiveIt to exercise its right to exchange all of its shares of stock in Integreon for consideration. Integreon was the surviving entity in this deal.

Integreon is a global provider of legal support, research and business services to law firms, financial institutions and corporations through high-value outsourcing services.

After the divestment, AC said LiveIt will still retain its other BPO investments in HRMall and AffinityX.
HRMall provides outsourced services for the Ayala group’s HR requirements, while AffinityX is the group’s provider of outsourced advertising and marketing production services.

Through AffinityX, AC is considering a bolt-on acquisition in the digital space that will complement and accelerate the group’s growth and capabilities.

In 2014, LiveIt also divested from BPO company Stream Global Services Inc. for P1.8 billion.


Please follow our commenting guidelines.

Comments are closed.