Metro Pacific Investments Corp. said Friday it acquired an additional 61.9-percent stake in upscale real estate developer Landco Pacific Corp. for P429.33 million.
MPIC said in a disclosure to the stock exchange it signed deeds of absolute sale of shares with AB Holdings Corp. and certain individuals for the acquisition of 61.9 percent of the issued and outstanding capital stock of Landco Pacific. MPIC holds a 38.1-percent ownership interest in the developer.