BUSINESS
Advocates Philippines
Metro Pacific Investments Corp to be Sold to Mitsui & Co
Photo credit: Metro Pacific Investments Corporation
On April 27, 2023, Mitsui & Co., Ltd. announced their planned commencement of a tender offer to acquire Metro Pacific Investments Corporation (MPIC), an integrated infrastructure company in the Philippines.
The offer will be made through Mit-Pacific Infrastructure Holdings (MPIH) and aims to acquire a portfolio of assets including core infrastructure assets related to power, water, and highways. The offer price is PHP 4.63 per MPIC common share, reflecting a valuation of MPIC's equity at PHP 132,862 million.
The offer is expected to commence in late May 2023, with a close planned for late June 2023. Mitsui plans to contribute to the energy transition in the Philippines and enhance MPIC's corporate value by combining MPIC's business foundation with Mitsui's global infrastructure business experience.
Mitsui also plans to support MPIC's business development and create collaborative projects by leveraging their comprehensive capabilities in the digital field and other areas. The Consortium aims to purchase all floating shares and delist MPIC from the Philippine Stock Exchange if it holds sufficient shares through the offer.
The offer will be made through Mit-Pacific Infrastructure Holdings (MPIH) and aims to acquire a portfolio of assets including core infrastructure assets related to power, water, and highways. The offer price is PHP 4.63 per MPIC common share, reflecting a valuation of MPIC's equity at PHP 132,862 million.
The offer is expected to commence in late May 2023, with a close planned for late June 2023. Mitsui plans to contribute to the energy transition in the Philippines and enhance MPIC's corporate value by combining MPIC's business foundation with Mitsui's global infrastructure business experience.
Mitsui also plans to support MPIC's business development and create collaborative projects by leveraging their comprehensive capabilities in the digital field and other areas. The Consortium aims to purchase all floating shares and delist MPIC from the Philippine Stock Exchange if it holds sufficient shares through the offer.
Apr 27, 2023
