ALI hikes stake in Trinoma

MANILA, Philippines - Ayala Land Inc. has further augmented its stake in North Triangle Depot Commercial Corp. (NTDCC), owner and operator of the Trinoma commercial center in Quezon City, by another 5.29 percent following a nearly 10 percent ownership increase just two weeks ago.

In a disclosure to the Philippine Stock Exchange, ALI said it purchased its proportionate share in the interests of DBH Inc. and Allante Realty and Development Corp. in NTDCC.

The property giant said DBH and Allante each own 4.08 percent in NTDCC and to date, ALI’s proportionate interest in both amounts to P422.5 million consisting of 308,574 common shares and 1.30 million preferred shares.

The transaction brings ALI’s ownership in NTDCC to 63.82 percent from 58.53 percent previously.

“This acquisition is aligned with ALI’s thrust of expanding its leasing business,” the property arm of the Ayala conglomerate said.

ALI two weeks ago scaled up its shareholdings in NTDCC by 9.24 percent through the purchase of 539,249 common shares and 2.27 million preferred shares of Anglo Philippine Holdings Corp., the investment holding firm led by National Bookstore owner Alfredo  Ramos, in NTDCC for P738 million.

Other significant NTDCC shareholders are Ramcar Inc. with 14.26 percent interest and, Lafayette Holdings Inc. with 12.50 percent interest.

Aside from Trinoma, ALI, meanwhile, is the real estate giant behind chain of large shopping malls like Greenbelt, Glorietta, Alabang Town Center, and Market Market.