Crown Equities Inc. (CEI) is set to acquire the remaining 52-percent stake in Crown Central Properties Corp (CCPC) from joint venture partners Federal Land Inc. and Horizon Land Property Development Corp., the company said in a stock exchange disclosure on Wednesday.
The acquisition will allow CEI to consolidate its real estate assets under CCPC, which will serve as the company’s dedicated real estate arm once it becomes a wholly owned subsidiary.
The transaction involves the purchase of 67.5 million CCPC shares, representing 52 percent of the outstanding capital. CEI will pay Federal Land P1.0898 per share and Horizon Land P1.0738 per share, with the full amount due upon closing.
CEI based the purchase price on the net book value of the shares as of Sept. 30, 2025.
Prior to the agreement, CEI held a 48-percent stake in CCPC. The firm originally formed the joint venture with Federal Land in 1996 to develop the Palma Real Residential Estate in Binan, Laguna.
CEI is a holding company focused on the acquisition and development of real estate properties through its subsidiaries and partnerships with major developers. Federal Land and Horizon Land are property units under GT Capital Holdings Inc.
