Ayala Land expands ownership of Trinoma mall

ABS-CBN News

Posted at Dec 11 2014 11:26 AM | Updated as of Dec 11 2014 07:26 PM

MANILA, Philippines - Ayala Land Inc. (ALI) has expanded its ownership of Trinoma Mall in Quezon City.

Ina disclosure to the stock exchange, ALI said it has purchased a "proportionate share" of Anglo Philippine Holdings Corporation’s 15.79 percent interest in North Triangle Depot Commercial Corporation (NTDCC) for P738 million.

"This brings ALI’s ownership in NTDCC from 49.29 percent to 58.53 percent of the total outstanding capital stock of NTDCC," the company said.

NTDCC owns and operates the Trinoma mall in North Triangle, Quezon City.

"This acquisition is aligned with ALI’s thrust of expanding its leasing business," the company said.