Ayala, Metro Pacific Team Up For Manila Light Rail Bids

Law360, New York (April 24, 2012, 2:49 PM EDT) -- Two of the Philippines' largest companies, Ayala Corp. and Metro Pacific Investments Corp., have joined forces to build new light rail projects and related real estate ventures in traffic-congested Manila, the companies announced Tuesday.

Per a strategic partnership agreement, each of the corporations will take a 50 percent stake in developing electric rail projects in the country's capital. Their initial target is bidding on the proposed expansion of a Metro Rail Transit Corp.-owned light rail line, "although we will be looking into other rail projects together...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.