Business giant, Ayala Corporation through their wholly owned subsidiary LiveIt Investments Ltd., sells their 58.71% stake in Integreon Inc. last September 2, 2016.
This is a recent move by LiveIt as they enter a business combination transaction with Anchorage Merger Sub Ltd.. LiveIt is exercising their rights on the exchange stocks of Integreon Inc.. The corporation is reducing their interest in the BPO industry and shift their focus elsewhere.
“As a result of the business combination, LiveIt exercised its right to exchange all of its shares of stock in Integreon Inc. for consideration,” Ayala Corp. said.
Integreon Inc. is a British Virgin Island business company. They are a global provider of serveral services such as legal support, research and business services to law firms, financial institutions and corporations.
Anchorage Merger Sub Ltd is also a British Virgin Island company. They are also a wholly owned subsidiary under NewQuest Capital Partners. They are one of Asia’s leading private equity platform for secondary transactions.
LiveIt and their stocks
This is not the only BPO firm that LiveIt has sold its stocks lately. Last August, they sold their entire 82.5-percent stake in IQ BackOffice through a management buyout. This will made IQ BackOffice have 100% ownership of their company.
LiveIt will stil retain it’s other BPO firm such as HRMall and AffinityX as they prove to be very strategic assets to the company. It has been noted that Ayala Corporation is slowly been letting go on its hold in some BPO company as they shift their focus of their investments to power generation, infrastructure, education and manufacturing as well as its core businesses of real estate, banking, telecommunications and water utility.
“Ayala exits BPO firm” from Inquirer.net; Read more
“Ayala unit unloads stake in Integreon” from PhilStar.com; Read more
“Ayala unit sells all stake in Integreon” from thestandard.com.ph; Read more
Photo from this source.