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Commission Decision No. 08-M-007/2018 Acquisition by Ayala Land, Inc. of Assets in Central Azucarera de Tarlac
ABSTRACT:
The transaction involves the proposed acquisition of Ayala Land, Inc. (ALI) of approximately 290 hectares of land of Central Azucarera de Tarlac (CAT), located in Barangay Central, San Miguel, Tarlac City, Tarlac.
ALI is a publicly-listed corporation duly organized and existing under and by virtue of the laws of the Republic of the Philippines. It is primarily engaged in the planning and development of large-scale, integrated estates, having a mix of use for the sale of residential lots and buildings, office buildings, and commercial and industrial lots, leasing of commercial and office spaces and the development, operation, and management of hotels and resorts. ALI is also engaged in property management, construction, and other businesses like retail and healthcare.
CAT is also a publicly-listed corporation organized and existing under and by virtue of the laws of the Republic of the Philippines. It is primarily engaged in the manufacturing of sugar and all its by-products. Its facilities include the sugar milling and refinery, distillery and carbon dioxide plants located in Tarlac.