Ayala Land buys portion of land assets of Luisita sugar mill owner
Property giant Ayala Land Inc. (ALI) said it is planning to buy portions of the land assets of Central Azucarera de Tarlac, Inc. (CAT), a move that was approved by Philippine Competition Commission (PCC).
ALI is particularly acquiring approximately 290 hectares of land owned by CAT, which is located in Barangay Central, San Miguel, Tarlac City, Tarlac.
CAT operates an integrated manufacturing facility that processes sugar and all its byproducts. Its business and facilities include the sugar milling and refinery, distillery and carbon dioxide plants located in Tarlac.
CAT also owns Luisita Land Corporation (LLC), a company engaged in developing, leasing and selling real estate properties and other ancillary services, a report said.