MANILA – Ayala Land Inc. (ALI) continues to increase its ownership of Trinoma mall in Quezon City after buying more shares in North Triangle Depot Commercial Corporation (NTDCC), the owner and operator of the commercial center.
In a disclosure to the stock exchange on Tuesday, ALI said it has purchased its proportionate share in the interests of DBH Incorporated (DBH) and Allante Realty and Development Corporation (Allante) in NTDCC.
DBH and Allante each own 4.08 percent in NTDCC, and to date, ALI’s proportionate interest in both amounts to P422.5 million, which consists of 308,574 common shares and 1,296,392 preferred shares.
This brings ALI’s ownership in NTDCC from 58.53 percent to 63.82 percent of the total outstanding capital stock of NTDCC.
“This acquisition is aligned with ALI’s thrust of expanding its leasing business,” the firm said.
Earlier this month, ALI also purchased a proportionate share of Anglo Philippine Holdings Corporation’s 15.79 percent interest in NTDCC for P738 million.