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Gov’t woos Ayala to bid for FTI anew


BY DENNIS GADIL

[ Malaya.com.ph ] March 25, 2010

The government is wooing property giant Ayala Land Inc. (ALI) to return to the negotiating table with a lower price for the development of the sprawling Food Terminal Inc. (FTI) Complex in Taguig City.

"Some, like Ayala, backtracked a little. They try to come back to the seller (government) after a while," Finance Secretary Margarito Teves said.

"Ayala can comeback. I won’t be surprised if Ayala comes back," he said.

Teves himself announced last month that ALI was no longer pursuing its negotiated bid for the FTI property.

The finance chief did not give a reason for ALI’s sudden loss of interest but stressed that talks for a negotiated sale with other bidders were on track.

The finance secretary disclosed that two groups were left to contest FTI but declined to divulge their names.

But early this week, ALI was again hinted at as among the parties that government is holding negotiations with.

ALI was previously perceived as the front-runner for the FTI privatization after being the first to express interest in the prime real estate.

During last year’s formal bidding, ALI did not submit a bid.

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