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Ayala Land, Inc. hikes Trinoma stake

04 Dec

Ayala Land (ALI) is set to consolidate control of the Trinoma commercial center in Quezon City by buying out the 15.8% interest held by the Anglo Philippine Holdings Corp. for PHP 1.3 billion.

Trinoma is owned and operated by North Triangle Depot Commercial Corp. (NTDCC), where ALI has a 49.3% interest.

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The acquisition will increase its stake to 65.1%, making the company a subsidiary whose earnings can be consolidated into ALI’s books.

Anglo-Phil, in a separate disclosure, had received and accepted the formal offer from ALI to purchase its interest in NTDCC, which was incorporated in 2001.

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Posted by on December 4, 2014 in ALI, Corporate News, Stock Market

 

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