On Thursday, the Securities and Exchange Commission approved the transaction, which allows AREIT to acquire the property by using 199 million shares, valued at about P6.77 billion or P34 each, to ACEN subsidiary Buendia Christiana Holdings Corp.
This will give Buendia Christiana a 6.2 percent stake in the country’s pioneering REITs, which are dividends-focused property holding companies.
The industrial estate, larger than the 240 hectares of Bonifacio Global City in Taguig, will be leased by another ACEN subsidiary, Giga Ace 8, which is developing solar power assets in the area.
