MPIC, partner extend evaluation period for Landco ownership

MANILA, Philippines- Holding company Metro Pacific Investments Corp. on Tuesday disclosed that the evaluation period on the fate of the ownership of real estate company Landco Pacific Corp. has been extended for another month. In a statement to the Philippine Stock Exchange, MPIC said AB Holdings Corp. and Alfred Xerez-Burgos Jr., Landco president, asked for the extension of the call option period from November 10 to December 10. Both MPIC and AB Holdings have announced interest in buying out each other's interest in the property. MPIC holds the majority stake while AB Holdings owns 49 percent of the company. MPIC has earlier lent Landco P500 million to help pay for its debts and fund projects. GMANews.TV