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Saturday, September 11, 1999
 
AC ( 09/11/1999 : TDY )
Ayala Corp. president Jaime August Zobel de Ayala said the group was looking to buy the 16 hectare Greenhills commercial-residential complex in Manila. The complex is estimated to be worth P25 B. "Of course we're interested. We're just waiting for the outcome of the process," he told reporters late on Thursday, referring to valuations being done on the Greenhills property. The property is to be sold by the Ortigas family. Ayala Corp. treasurer Manuel Bengson said that the company was seeking a $100 M to $ 150 M syndicated loan from foreign banks by year-end. Bengson said the proceeds would fund the expansion plans of Ayala Corp's subsidiaries. He did not elaborate. In July, Ayala Corp raised $200 M from the international bond market. It was also considering, rasing funds by issuing a special class of shares. The sale of the Greenhills complex, initially reported to be valued at P25 B or $625 M, is being handled by HSBC Holdings Plc. and ING Barings, Ayala said. The property would be the largest the Ayala group would bid for in the Philippine capital after its property unit, Ayala Land Inc., lost the bidding in 1994 for the 214-hectare Fort Bonifacio at the edge of the Makati financial district. Ayala also said at the launching of the new mutual fund of the group's Bank of the Philippine Islands that the group was also seeking to expand its operations overseas. "We want to establish a regional presence. We'll do it step by step, building block by building block,"he said. Early this month, Ayala Corp. bought the 49.12 percent stake of Singapore's Keppel Tat Lee Bank Ltd. in TLB Land Ltd. In August, Ayala corp. and British company Grosvener Ltd. had also agreed to buy 16.6 percent of Hong Kong property developer Asia Standard International Group Ltd. 0129.H.K. At home Ayala Land is now in talks with Metro Pacific Corp., winner of the Fort Bonifacio bid, for the joint development of some portions of the former army base.

- posted by StockMarket @ 4:09 PM

Friday, September 10, 1999
 
AC ( 09/10/1999 : PSE )
Ayala Corporation would like to refer to the PSE fax today, 10 September 1999 addresses to Mr. Rufino Luis T. Manotok requiring the company to clarify the news article entitled "SingTel, Deutsche Telecom" and "Globe, Islacom Merger Deal Set" published in today's issue of Philippine Star and Manila Standard, respectively. in connection therewith, the company would like to confirm that discussions continue to proceed among Ayala Corporation, Singapore Telecom and Deutsche Telecom. However, the company would like to clarify that no final agreements have been forged to date. As soon as a definitive agreement is reached among the parties, this will be disclosed immediately to the PSE and to the public.
- posted by StockMarket @ 4:09 PM


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