CA stops sale of Bacolod property to Ayala Land

Posted at Jul 22 2011 06:50 PM | Updated as of Jul 23 2011 02:50 AM

The Court of Appeals has granted SM Prime Holdings' petition for  restraining order on Negros Occidental's award of a 7.7-hectate property in Bacolod to Ayala Land. Ayala announced the award this week after completing negotiations with the provincial government. SM Prime says its previous bid for the property was higher than Ayala Land's. ANC's Business Nightly has the report.