November 15, 2021
Sale of 60% stake in Air 21 Holdings Inc. to AC Logistics Holdings Corporation
Fortman Cline advised the Lina family on the partial monetization of their consolidated interest in 8 logistics subsidiaries that provide end to end solutions to Ayala Logistics, a fully owned subsidiary of Ayala Corporation. In addition to the control sale monetization, Fortman Cline arranged a concurrent US$50mm rights issue, to be executed upon financial closing. The transaction represents a synergistic partnership which could play a transformative role in the Philippine logistics industry.
