Ayala further hikes stake in Trinoma to 73%

PROPERTY giant Ayala Land Inc. (ALI) has further expanded its interest in the Trinoma commercial center in Quezon City to 73.24 percent from 70.36 percent by buying the shares held by other minority shareholders.
This was after earlier completing the buyout of shares held by Ramos family-led Anglo Philippine Holdings Corp. (Anglo).
In a disclosure to the Philippine Stock Exchange on Monday, ALI said it had purchased the combined remaining interest of Allante Realty and Development Corp. and DBH Inc. in North Triangle Depot Commercial Corporation (NTDCC). These consisted of 167,548 common shares and 703,904 preferred shares amounting to P229 million.
NTDCC owns and operates the Trinoma commercial center, which has a net leasable area of 110,000 square meters. The mall, which is located at the main depot of Metro Railway Transit-3 in North Avenue, Quezon City, broke ground in June 2005 and began operations in May 2007.
“This acquisition is aligned with ALI’s thrust of expanding its leasing business,” the disclosure said.