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FYI, shoppers.
“Ayala Land Inc. is taking majority control of Tutuban Center operator Prime Orion Philippines Inc. (POPI) for PHP5.6 billion,” reports Iris C. Gonzales in The Philippine Star.
In a disclosure to the Philippine Stock Exchange, ALI said it forged an agreement to acquire 2.5 billion common shares or 51.36% of Prime Orion.
The closing of the deal is subject to certain terms and conditions.
The report noted: “The popular Tutuban Center is a retail complex in the shopping district of Divisoria in Tondo, Manila, with gross leasable area of about 60,000 square meters. It offers various concepts from wholesale and bargain stalls, to regular retail and food outlets. The shopping complex sits on a 20-hectare property, which will be the location of the North South Railway Project Transfer Station.”
Photo: Tutuban Center Facebook page
