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CLAIM: Suspended lawyer Larry Gadon, a senatorial candidate, claimed that the Bangui Windmills in Ilocos Sur is a project of a former governor who is now
The commitment of VCDC to the environment is not just lip service as it is proactive in the search of like-minded partners that would further enhance the sustainability mission of VCDC. One of its newest partnerships was forged with Renesource, a company that empowers Filipino homeowners and busines
Published April 5, 2021, 7:00 AM
Pangilinan-led Metro Pacific Investments Corporation (MPIC) is eyeing a Metro Manila expansion of the 84-kilometer pipeline, which is part of the oil import facility of Philippine Coastal Storage and Pipeline Corporation (PCSPC) that the company acquired last year, in anticipation of growing demand.
MPIC invested in the facility along with Keppel Infrastructure Trust (KIT) in a merger and acquisition (M&A) deal concretized last December. The sale and purchase agreement (SPA) was sealed with the Philippine Investment Alliance for Infrastructure (PINAI), an investment fund managed by Macquarie Infrastructure and Real Assets.
MPIC initially has 20 percent stake in the PCSPC acquisition, but there have been discussions with its partner KIT for it to be given an option to increase its equity to 50 percent.
M&A
Keppel Infrastructure and Metro Pacific acquire petroleum storage facility
The acquisition is the Philippines’ largest M&A this year and looks smart given pressures on the domestic refining sector and an expected rise in imports next year.
December 15, 2020 In what is the country’s largest MA deal this year, Keppel Infrastructure Trust KIT and Metro Pacific Investments Corporation MPIC are to acquire Philippine Coastal Storage Pipeline Corporation PCSPC, the largest petroleum products import storage facility in the Philippines, for $334 million. The 8020 deal from the largest diversified business trust listed in Singapore and the domestic real estate and infrastructure investment holding company acquired PCSPC from the Philippine Investment Alliance for Infrastructure consortium, which is made up of state pension fund Government Service Insurance System, private equity fund Langoer Investments and asset manager Macquarie Infrastructure.