MANILA, Philippines — Ayala Corp. has signed a deal to introduce a new grocery format to the Philippines. This time, the company is partnering with United Arab Emirates-based Spinneys, marking the brand’s debut in Asia.
Under the partnership agreement, Ayala will hold a 60-percent stake, while Spinneys will own the remaining 40 percent, Spinneys said in a press statement issued recently.
https://business.inquirer.net/550032/ayala-brings-spinneys-to-the-philippines