Ayala Land, Inc.’s Proposed Acquisition of Shares of Aboitiz Land, Inc. and Aboitiz Equity Ventures Inc. in Cebu District Property Enterprise Inc.

Ayala Land, Inc. (ALI) entered into a share sale and purchase agreement with Aboitiz Land and Aboitiz Equity Ventures Inc. (AEV) for the purchase by ALI of Aboitiz Land and AEV’s 50% equity interest in Cebu District Property Enterprise Inc. (CDPEI).

Nature and amount of consideration given or received:

Pesos: One Billion Eight Hundred and Ten Million (PhP1,810,000,000.00), broken down as follows:

• One Hundred Eighty-One Million Pesos (PhP181,000,000.00) to be paid to AboitizLand for its One Million Eight Hundred Ten Thousand (1,810,000) common shares; and
• One Billion Six Hundred Twenty-Nine Million Pesos (PhP1,629,000,000.00) to be paid to AEV for its Sixteen Million Two Hundred Ninety Thousand (16,290,000) Series “A” Preferred Shares.

This acquisition will consolidate ALI’s ownership of CDPEI, the developer of Gatewalk Central. ALI envisions Gatewalk Central to be one of its key Cebu estates that will contribute to ALI’s growing presence in the Visayas region.

CDPEI, is the joint venture company of ALI, Aboitiz Land, and AEV. It was incorporated in 2014 to engage in the business of real estate development. It is the developer of Gatewalk Central, a 17.5-ha. mixed-use estate in Mandaue City, Cebu.

Ayala Land is the largest property developer in the Philippines with a solid track record in developing large-scale, integrated, mixed-use, sustainable estates that are now thriving economic centers in their respective regions.

​AboitizLand, Inc. offers services related to real estate. The company creates and oversees the management of retail establishments, offices, industrial structures, sports fields, and residential properties. Philippines-wide tenant service is provided by AboitizLand.

Power generation, distribution, and retail electricity, banking and financial services, food manufacturing, real estate, infrastructure, and land are the main areas of concentration for Aboitiz Equity Ventures.