AyalaLand Logistics Holdings Corp. (ALLHC) has acquired for P2.39 billion 100% of the shares of Unity Realty & Development Corporation (URDC), owner of a property that will be turned into an industrial park in Mabalacat, Pampanga.
ALLHC on July 19 acquired the shares of URDC through a deed of absolute sale which was implemented immediately, the company said in a disclosure on July 24. With this, URDC will become a wholly owned subsidiary of ALLHC.
ALLHC said the price was based on the value quoted by the owners and agreed upon by the parties. It added that the payment was a combination of internally generated funds and internal advances.
The company said the acquisition “further strengthens the vision of ALLHC to be the leading real estate logistics and industrial estate developer in the Philippines.”
In a July 19 letter to the Philippine Stock Exchange, ALLHC said the 192-hectare property in Mabalacat will become the location for an industrial park.
ALLHC, formerly Prime Orion Philippines, Inc. and a subsidiary of Ayala Land, Inc., is an investment holding company with primary interest in developing industrial estates, and is a major player in real estate logistics and commercial centers in the country. Industrial parks under its portfolio include Laguna Technopark, Cavite Technopark, and Laguindingan Technopark. It also has warehouses or ready-built facilities for lease in Laguna, Cavite, and Pampanga, as well as retail and office spaces.
