Tycoon Federico Lopez-Led Rockwell Land Takes Over Manila Suburban Mall For $368 Million |
Rockwell Land—controlled by energy and media tycoon Federico Lopez and his family—has agreed to buy 75% of a company that owns and runs a shopping mall south of Manila for 21.6 billion pesos ($368 million).
The controlling stake in Alabang Commercial Corp., which owns the 17.5 hectare Alabang Town Center, will be acquired from businessman Francisco Bayot and other shareholders, Rockwell said in a statement.
The acquisition will add 137,000 square meters of gross........