The Philippine Competition Commission (PCC) has given the green light for the sale of a 40 percent stake in Aboitiz InfraCapital Inc. (AIC) to Global Infrastructure Partners (GIP), an investment firm under BlackRock.
Aboitiz Equity Ventures (AEV), the parent company of AIC, confirmed the clearance on Thursday, noting that this approval is one of the key requirements to finalize the deal. The transaction was first agreed upon last December through a share subscription and purchase agreement. Valued at approximately P13.7 billion, the amount includes P4.64 billion to be invested directly into AIC, with the rest paid to AEV.
Under the agreement, GIP will acquire 1.14 billion common shares and 1.4 billion redeemable preferred shares in AIC. The investment is designed to bring in a strategic partner with extensive global experience across transport, energy, water, and digital infrastructure. AEV stated that GIP’s expertise will help strengthen AIC’s operations, introduce international best practices, and support long-term sustainable growth.
The move also aligns with AEV’s strategy of managing its portfolio efficiently while advancing its goal of evolving into a technology-focused conglomerate. It is expected to generate broader economic benefits and value for stakeholders.
AIC manages major Philippine gateways including Mactan-Cebu, Panglao, and Laguindingan international airports, alongside assets in water distribution and telecommunications towers. With regulatory clearance secured, both parties are now working to meet the remaining requirements to complete the transaction.
