Ayala Land buys out Ramos family in Trinoma mall
ABS-CBNnews.com
Posted at 02/06/2015 5:21 PM
SOURCE LINK:
http://rp1.abs-cbnnews.com/business/02/06/15/ayala-land-buys-out-ramos-family-trinoma-mall

MANILA – Ayala Land Inc. (ALI) again increased its ownership of Trinoma mall in Quezon City after buying out the remaining shares of the Ramos family’s Anglo Philippine Holdings Corporation (Anglo) in North Triangle Depot Commercial Corporation (NTDCC).

ALI said it purchased Anglo’s remaining 2 million shares in NTDCC, the owner and operator of the commercial center, for P523 million.

After the buyout, ALI’s ownership in NTDCC again increased from 63.82 percent to 70.36 percent of the total outstanding capital stock of NTDCC.

“This acquisition is aligned with ALI’s thrust of expanding its leasing business,” the firm said in a disclosure to the stock exchange.

The chairman and chief executive of Anglo is Alfredo Ramos, the son of National Book Store founder Socorro Ramos.

In December 2014, ALI began increasing its ownership in Trinoma by purchasing a proportionate share of Anglo Philippine Holdings Corporation’s 15.79 percent interest in NTDCC for P738 million.

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