MANILA/YANGON -- Philippine conglomerate Ayala will invest $238 million in two Myanmar-focused companies led by tycoon Serge Pun, a deal that links a pair of Southeast Asian corporate powerhouses in a country struggling to draw much-needed foreign investment.
Ayala will take a 20% stake in both Singapore-listed Yoma Strategic Holdings and First Myanmar Investment, which is traded in Yangon, company officials told the Nikkei Asian Review late Wednesday.
