Doña Bea, the Ayala family matriarch, passes away at 88

MANILA, Philippines — Beatriz Zobel de Ayala, the matriarch of the Ayala family, has passed away. She was 88 years old.

Ayala Corp. made the announcement on Tuesday, September 24.

"The news was shared among Ayala employees earlier today," Ayala Corp said in its announcement.

The firm did not disclose the cause of death of the family matriarch. They also requested for privacy. 

Zobel, also known as Doña Bea, is the wife of Ayala Corp. chairman emeritus Jaime Zobel de Ayala.

A memorial service will be held for the Ayala matriarch on Friday morning, September 27, at the Santuario de San Antonio Parish at Forbes Park in Makati City.

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This report will be updated with new information as it becomes available.