Ayala Land increases stake in North Triangle Depot

ABS-CBN News

Posted at Dec 03 2014 11:35 AM | Updated as of Dec 03 2014 07:35 PM

MANILA – Ayala Land Inc. is increasing its stake in the North Triangle Depot Commercial Corporation (NTDCC), which owns and operates the Trinoma mall in Quezon City.

In a disclosure to the stock exchange on Wednesday, Ayala Land said the board of Anglo Philippine Holdings Corporation (APHC) has approved to accept its offer to buy the 15.79 percent interest of APHC for P1.26 billion.

“This acquisition is aligned with ALI’s thrust of expanding its leasing business,” Ayala Land said.

Ayala Land currently owns 49.29 percent of NTDCC.

In a separate disclosure, APHC acknowledged the receipt of Ayala Land’s offer, adding that it has approved accepting the offer subject to the terms and conditions and the rights of first refusal of its stockholders.