Ayala Land Inc. (PSE: ALI), through its wholly-owned subsidiary Regent Wise Investments Ltd (RWIL), signed a share purchase agreement to acquire an additional 17.24% share in MCT Bhd, subject to completion of certain conditions. This will bring ALI’s shareholding in MCT to 50.19% from 32.95%.
This increase in ownership will strengthen ALI’s commitment to enhance MCT’s operations and expand its business further. This will also provide ALI with a greater opportunity to take advantage of the growth potential and long-term prospects of the real estate sector in Malaysia and will affirm ALI’s role as a key player in the ASEAN Property Sector.
With ALI’s solid track record in developing large-scale, integrated, mixed-use and sustainable estates across the Philippines and in growing its diversified product lines, the company is in a highly-capable position to boost the performance and enhance the value of MCT.
This transaction will oblige RWIL to conduct a mandatory take-over offer in accordance with the laws of Malaysia once the share purchase agreement becomes unconditional.