7 months ANA buys 9.5% of PAL for $95 M MB |Biz
By James A. Loyola Flag carrier Philippine Airlines (PAL) is strengthening its partnership with All Nippon Airways, Japan’s largest and 5-star airline for six consecutive years, following a strategic investment made by their parent companies. Jaime J. Bautista In a statement, PAL said ANA’s parent company ANA Holdings Inc. (ANA HD) is acquiring a 9.5 percent stake in the Philippine flag carrier’s mother company PAL Holdings Inc. for US$95 million. ANA HD will acquire the shares from Trustmark Holdings Corporation, which is owned by the Lucio Tan family and is the largest shareholder of PAL Holdings. “This purchase underscores ANA ... more