AbaCore Capital Holdings Inc. of the Mandanas family said Friday it sold several properties in Batangas province as part of a strategy to deliver long-term value to shareholders.
AbaCore Capital said in a disclosure to the stock exchange subsidiaries Friendship Management Corp. and Candor Realty Corp. signed agreements with buyers on their properties.
Under the agreement, Friendship Management will sell 21,375 square meters of land at Tanguay in Lipa City to Taft Property Venture Development Corp., a subsidiary of the Gaisano group, for P17.1 million. This transaction is a milestone for the Gaisano group as its first venture in Batangas province. AbaCore will maintain 10 hectares of land in nearby Barangay San Salvador and 90 hectares of land in Rosario, Batangas.
Candor Realty agreed to sell about 4,845 sq. m. of land to a meat processing company under a large retail chain for P41.18 million. The entity will use the land to expand its meat-processing operations.