Ayala Corp. (AC) has completed the sale of a 40-percent stake in AC Logistics Holdings Corp. to A.P. Moller Capital’s Emerging Markets Infrastructure Fund II, sealing a strategic investment that will help accelerate the logistics company’s expansion.

The company informed the local bourse on Wednesday that the transaction was completed after all closing conditions, including merger control clearances, were satisfied, with A.P. Moller Capital investing through EMIF II Holding III B.V.

“A.P. Moller Capital and AC completed today the strategic investment by A.P. Moller Capital – Emerging Markets Infrastructure Fund II in AC Logistics Holdings Corporation (AC Logistics), marking a significant milestone in the development of a leading integrated logistics provider in the Philippines,” AC said.

The company said the partnership combines A.P. Moller Capital’s global transportation and logistics expertise and operational capabilities with AC’s local market knowledge, relationships and track record of building local businesses.

AC Logistics, established in 2021, provides supply chain services and operates distribution centers nationwide. 

The company said the partnership is expected to support faster growth through new partnerships.

The Philippine Competition Commission approved the transaction in January after finding that it is unlikely to substantially lessen competition.

The antitrust regulator reviewed the deal’s potential impact on the domestic and international freight-forwarding, nationwide contract-logistics, and container-liner-shipping markets before granting clearance.

“Domestic and international freight forwarding markets remain highly fragmented, with customers commonly engaging multiple service providers,” the PCC said.

The commission said its review, which included input from the parties, industry experts, and regulators, found no significant competition concerns, allowing the investment to proceed.

EMIF II Holding III B.V. is part of A.P. Moller Capital, an infrastructure fund focused on transport, logistics, and the energy transition.

AC Logistics owns Air21 Holdings, whose subsidiaries include LGC Logistics Inc., Cargohaus Inc., U-Freight Philippines Inc., and U-Ocean Inc., which provide domestic and international freight forwarding, contract logistics, and warehousing services.