Global Infrastructure Partners (GIP), an infrastructure investment unit of BlackRock, is in advanced talks to acquire a 40% stake in Aboitiz InfraCapital (AIC), the infrastructure arm of Aboitiz Equity Ventures Inc (AEV), according to a disclosure.
The planned transaction, subject to due diligence and regulatory approvals, marks one of the largest foreign equity investments in Philippine infrastructure in recent years.
The strategic partnership underscores increased international investor interest in the country’s infrastructure sector, with both parties citing the potential to expand and modernize essential services.
AIC owns and operates assets in airports, water, economic estates, and telecommunications infrastructure.
The deal was discussed during a meeting in the United States between Philippine President Ferdinand Marcos Jr., Aboitiz Group President and CEO Sabin Aboitiz, and GIP Chairman and CEO Bayo Ogunlesi.
“This collaboration marks a strong vote of confidence in the Philippines’ future. With global partners like GIP working alongside respected Filipino firms such as Aboitiz, we can build infrastructure that is more resilient, inclusive, and forward-looking,” President Marcos said in a statement.
AIC’s portfolio includes the Mactan-Cebu International Airport, Laguindingan International Airport, and Bohol-Panglao International Airport. The firm also has holdings in bulk water supply projects, industrial estates, and telecom towers.
Its portfolio in Cebu also includes two industrial estates: the 63-hectare MEZ2 Estate in Lapu-Lapu City and the 540-hectare West Cebu Estate (WCE) in Balamban, home to shipbuilding and heavy industries.
MEZ2 Estate hosts 44 locators with a workforce of 14,000, while WCE accommodates 17 global firms employing over 14,000 skilled workers.
Both estates hold 5-Star BERDE District Certification, marking them as the first in Visayas and Mindanao to receive this recognition for sustainable industrial development.
“We are honored to explore this opportunity with Global Infrastructure Partners,” said Aboitiz. “Our shared vision of modern, world-class infrastructure aligns with the country’s ambitions for progress.”
GIP, which manages over $183 billion in assets, has a track record of investing in transport, energy, digital infrastructure, and utilities. Ogunlesi said the partnership would allow GIP to support the Philippines’ infrastructure growth and deliver services that benefit local communities.
The companies did not disclose the expected valuation or timeline for completion.
CebuBusinessNews.ph
