In a stock exchange filing on Tuesday, AEV announced that the Philippine Competition Commission (PCC) approved the transaction.
CDPEI, established in 2014 as a joint venture, is responsible for developing the 17.5-hectare Gatewalk Central Superbloc in Mandaue City, Cebu.
“This acquisition will consolidate ALI’s ownership of CDPEI, the developer of Gatewalk Central,” Ayala Land said in a previous filing.
“ALI envisions Gatewalk Central to be one of its key Cebu estates that will contribute to ALI’s growing presence in the Visayas region,” it added.
