AboitizLand buys out Marubeni in Batangas-based Lima Land

Aboitiz Land Inc., the Aboitiz family's property unit, has fully acquired an industrial park operator in Batangas after buying out the 40 percent equity of Japan's Marubeni Corp.

 

 

The share purchase deal covered 360 million common shares in Lima Land Inc. held by Marubeni, holding firm Aboitiz Equity Ventures Inc. said in a disclosure to the Philippine Stock Exchange Friday. 

 

"This brings AboitizLand’s ownership in LLI to 100 percent," the disclosure read.

 

Lima Land was a 40-60 joint venture between Marubeni and Alsons Land Inc., and is the owner and operator of the 485-hectare Lima Technology Center, a PEZA-registered industrial park in Lipa-Malvar, Batangas.

 

Last October, AboitizLand bought the majority stake of the Alcantara Group in Lima Land. for P1.36 billion.

 

AboitizLand is the developer and operator of the Mactan Economic Zone II in Barangay Mactan, Lapu Lapu City, and the West Cebu Industrial Park in Balamban, Cebu through subsidiary Cebu Industrial Park Developers Inc. – Danessa Rivera/VS, GMA News