ABOITIZ InfraCapital Inc. (AIC), the infrastructure arm of the Aboitiz Group, on Thursday assumed full ownership of Aboitiz GMR Megawide Cebu Airport Corp. (AGMCAC), the developer and operator of Mactan-Cebu International Airport (MCIA).
ABOITIZ InfraCapital Inc. , the infrastructure arm of the Aboitiz Group, on Thursday assumed full ownership of Aboitiz GMR Megawide Cebu Airport Corp. , the developer and operator of Mactan-Cebu International Airport .AIC completed the exchange of a previously issued P15.5 billion in notes from Megawide Construction Corp. and GMR Airport s International B.V. for the remaining 66 and two-thirds percent plus one share of AGMCAC's outstanding capital stock.
'As an infrastructure innovator, the completion of the airport transaction facilitates our natural progression into property development and allows us to focus on our Precast and Construction solutions unit... and our other infrastructure projects, including the Parañaque Integrated Terminal Exchange,' Edgar Saavedra, Megawide chairman and CEO, said on Wednesday.
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