Ayala keen to 'replicate' Yoma deal with more ASEAN family empires

'Chemistry' was key in Philippine and Myanmar conglomerates' rare tie-up

Yoma's Serge Pun, left, and Ayala's Jaime Augusto Zobel de Ayala have been friends for years. (Photo by Weixiang Lim)

KENTARO IWAMOTO and YUICHI NITTA, Nikkei staff writers

November 16, 2019 18:22 JST

SINGAPORE -- The chairman of Philippine conglomerate Ayala Corp. says he is open to more partnerships with Southeast Asia's family-run empires, after sealing just such a rare deal with Myanmar's Yoma Group.

Ayala, whose operations span real estate and finance to health care, this week announced a combined $237.5 million investment in two companies controlled by the Myanmar group.