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Friday, March 29, 2024

ALI wants more Trinoma stake

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Property developer Ayala Land Inc. said it wants to acquire more shares in the company that operates TriNoMa shopping mall in Quezon City.

Ayala Land chief finance officer Jaime Ysmael said in a text message the company was interested in acquiring more shares in North Triangle Depot Commercial Corp., operator of TriNoMa mall.

“We are open to acquiring more shares in NTDCC to the extent that there are shareholders who are willing to sell,” Ysmael said.

“This is consistent with our strategy to grow our leasing income via organic growth of through acquisitions,” he said.

Ayala Land on Monday increased its stake in NTDCC after acquiring the combined remaining interest of Allante Realty and Development Corp. and DBH Inc. consisting of 167,548 common shares and 703,904 preferred shares, worth P229 million. This brought Ayala Land’s ownership in NTDCC to 73.24 percent from 70.36 percent. 

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