Friday 22 June
Powered by Ajaxy
Feb 27, 2016 @ 8:44

Ayala Land acquires 51% of Tutuban Center owner


PROPERTY giant Ayala Land Inc. has sealed a deal to acquire majority interest in Prime Orion Philippines Inc. (Popi), owner and developer of the popular bazaar hub in Divisoria, Tutuban Center.

A deed of subscription had been executed whereby ALI subscribed to 2.5 billion common shares or 51.06 percent of Popi for P2.25 a share or a total block price of P5.62 billion, both companies disclosed to the Philippine Stock Exchange Friday.

ALI paid for the initial 25 percent of the block or P1.4 billion while the rest will be settled upon fulfillment of certain terms and conditions.

Tags: , , ,

Related Stories
Property giant Ayala Land, Inc. (ALI) acquired an additional 4.14 percent stake in Prime Orion
Property giant Ayala Land Inc. of Bilyonaryo Jaime Augusto Zobel de Ayala is spending P5.62
Property giant Ayala Land Inc. has jacked up its its stake in Malaysian property and
Property giant Ayala Land Inc. is offering up to P20 billion worth of retail bonds

Read full Article here »

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.