Ayala Land further raises stake in Trinoma mall operator

Property developer Ayala Land Inc. (ALI) further grew its stake in the operator of Trinoma mall in Quezon City after it buying the remaining interests of Allante Realty and Development Corp. and DBH Inc. in North Triangle Depot Commercial Corp. (NTDCC).

 

On Monday, Ayala Land said it bought the combined remaining interests of Allante and DBH in NTDCC, a move that "... is aligned with ALI's thrust of expanding its leasing business."

 

The acquisition consists of 167,548 common shares and 703,904 preferred shares amounting to P229 million.

 

"This brings ALI's ownership in NTDCC from 70.36 percent to 73.24 percent of the total outstanding capital stock of NTDCC, which owns and operates the Trinoma commercial center in North Triangle, Quezon City," ALI said.

 

Last week, ALI increased its equity stake in NTDCC to 70.36 percent from 63.82 percent of the total outstanding capital stock of the mall operator after the company bought the remaining shares of Anglo Philippine Holdings Corp. in NTDCC for P523 million. – Kathryn Mae P. Tubadeza/VS, GMA News