Ayala Land Inc. on Thursday secured shareholder approval to merge with 34 of its subsidiaries, as part of an internal restructuring which seeks to simplify its ownership structure and reach “operational synergies” moving forward.In a regulatory filing, ALI said the planned merger is set to be filed with Securities and Exchange Commission and expected to be given the go ahead within the year, after it was approved by its stockholders during their annual meeting on Thursday, April 25.
Also included are Seda College Inc., Asiatown Hotel Ventures Inc., North Ventures Commercial Corp., Westview Commercial Ventures Corp., Circuit Makati Hotels Ventures Inc., Primavera Towncentre Inc., Hillsfort Property Corp., Sunnyfield E-Office Corp., Southportal Properties Inc., and Regent Horizons Conservation Company Inc.The merger also includes ALI Capital Corp., Amorsedia Development Corp., Verde Golf Development Corp., FIVE STAR Cinema Inc., ALO Prime Realty Corp., Enjay Hotels Inc.