THE Ayala Group is consolidating its industrial businesses by transferring its stake in a semiconductor manufacturing arm to AC Industrial Technology Holdings Inc. (AC Industrials), the group’s industrial holdings subsidiary.

In a statement on Wednesday, Ayala Corporation said its wholly owned subsidiary AYC Holdings Ltd. (AYC), held through AC International Finance Ltd. (ACIFL), is transferring its 50.6-percent stake in Integrated Micro-Electronics Inc. (IMI) to AC Industrials.

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