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Announced

Aboitiz Equity Ventures to acquire a 33% stake in Mactan Cebu International Airport from Megawide and GMR Airports for $440m.

Financials

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Transaction Value£381m
Consideration TypeOrdinary Shares, Loan Notes
Capital Owned-
Capital Bid For33%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Minority

Philippines

Acquisition

Domestic

Private

airport

Airports

Pending

Friendly

Single Bidder

Synopsis

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Aboitiz Equity Ventures, a Philippine holding company, agreed to acquire a 33% stake in Mactan Cebu International Airport from Megawide, an engineering and infrastructure firm, and GMR Airports, a private airport operator, for $440m. "We, at Aboitiz InfraCapital, are happy to partner with GMR-Megawide for the continued growth and development of the Mactan-Cebu International Airport. The GMR-Megawide Consortium has done a tremendous job by significantly expanding the airport over the pre-pandemic years — almost tripling passenger traffic in five years. This is quite an accomplishment in setting up a solid foundation for the future," Cosette Canilao, AIC President and CEO.

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