Aboitiz Land Inc. has bought out the majority stake of Lima Land Inc. (LLI), the industrial real estate unit of the Alcantara Group’s Alsons Land Corp. (ALC), for P1.36 billion.
Two separate disclosures at the Philippine Stock Exchange showed that ALC and AboitizLand signed a purchase agreement on Friday for the latter’s acquisition of ALC’s 60-percent interest in LLI for a purchase price of P1.4 billion. LLI is the owner and operator of the LiMA Technology Center, an industrial park located in Batangas that is registered under the Philippine Economic Zone Authority.
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