Announced
Financials
Sources
Tags
Minority
Philippines
Acquisition
Domestic
Private
airport
Airports
Pending
Friendly
Single Bidder
Synopsis
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.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.