Ayala Land to buy Anglo PHL's stake in Trinoma owner for P1.26B

Listed property developer Ayala Land Inc. is raising its stake in the operator of a mall in Quezon City after its partner Anglo Philippine Holdings Corp. accepted an offer for P1.26 billion.

 

In a disclosure to the Philippine Stock Exchange Wednesday, Ayala Corp. said it offered to buy the 15.79 percent equity interest of Anglo Philippine Holdings in North Triangle Depot Commercial Corp. (NTDCC) for P1.26 billion.

 

North Triangle owns and operates the Trinoma commercial center in Quezon City, while Ayala Land currently owns 49.29 percent of North Triangle.

 

In a separate disclosure, Anglo Philippine Holdings said its board accepted the Ayala Land offer subject to "the terms and conditions of the offer and the rights of first refusal of the stockholders of NTDCC." – Danessa O. Rivera/VS, GMA News