LISTED firm A. Soriano Corp. (Anscor) has divested a parcel of land in Cebu Business Park for P397.12 million to realize investments.
In a disclosure to the Philippine Stock Exchange on Monday, Anscor said it is selling its 2,336-square meter lot within the Cebu Business Park through sale of its wholly owned subsidiary Uptown Kamputhaw Holdings Inc., which holds the Cebu Business Park property.
“Anscor signed a deed of absolute sale dated December 16 for the sale of its Cebu Business Park lot in Barangay Mabolo, Cebu City through the sale of 100 percent outstanding shares of stock of Anscor’s subsidiary Uptown Kamputhaw Holdings Inc. to Skyrise Realty and Development Corp. for a total price of P397.12 million,” the disclosure read.
The company said it divested from the Cebu lot to “realize investments.”
Anscor traded off 70,883 Uptown Kamputhaw shares to Skyrise Realty for P5,602.47 per share.
Incorporated in 1930, Anscor is a holding firm having investment interests in the Philippines and abroad. It has investment interests in: manufacturing of wire and cable products (Phelps Dodge Philippines Energy Products Corp.), resort operations of Amanpulo Resort in Palawan (Seven Seas Resorts and Leisure Inc.), education (Enderun Colleges Inc.), US-based provider of healthcare professionals (Cirrus Medical Staffing Inc.), and other companies involved in aviation, nurse deployment, business process outsourcing and real estate.