Ayala hikes stake in Trinoma mall to 70.36%

PROPERTY giant Ayala Land Inc. has beefed up its stake in Trinoma commercial center to 70.36 percent from 63.82 percent by gobbling up the remaining shares held by Ramos family-led Anglo Philippine Holdings Corp. (Anglo).
In a disclosure to the Philippine Stock Exchange on Friday, ALI said it had purchased the remaining stake held by Anglo in North Triangle Depot Commercial Corp. (NTDCC) consisting of 382,072 common shares and 1.605 million preferred shares worth a sum of P523 million.
NTDCC owns and operates the Trinoma commercial center in North Triangle, Quezon City.
“This acquisition is aligned with ALI’s thrust of expanding its leasing business,” the disclosure said.
This transaction makes NTDCC a subsidiary of ALI whose earnings will be henceforth consolidated into the latter’s books.