Sunday 21 October
Powered by Ajaxy
Jan 29, 2018 @ 14:28

Ayala Land beefs up stake in Tutuban mall developer


Property giant Ayala Land, Inc. (ALI) acquired an additional 4.14 percent stake in Prime Orion Philippines Inc., owner and developer of Tutuban Center.

In a stock exchange filing, POPI said its parent firm ALI purchased 202.77 million shares through a block sale for P2.45 each share or a total of P496.8 million.

POPI acquired control of POPI in February 2016 with the purchase of 51 percent.

Apart from the Tutuban mall, POPI also owns a beachfront in San Vicente, Palawan, and a 10 percent stake in Cyber Bay Corp.

POPI is also engaged in the lease of warehouses and non-life insurance.

Please follow and like us:

Tags: , , , , , , , , ,

Related Stories
The Ayala family is bent on turning the iconic Tutuban mall in Divisoria, Manila into
Property giant Ayala Land Inc. of Bilyonaryo Jaime Augusto Zobel de Ayala is spending P5.62
Conglomerate Ayala Corp. raised around P8.07 billion from a private placement of shares.
The battle between this government bank and the stock exchange heats up.


Trending News

Recommended on sister sites

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