MEGAWIDE Construction Corp. has finalized its divestment from Mactan-Cebu International Airport (MCIA), transferring its remaining 33.33-percent plus one share in Aboitiz GMR Megawide Cebu Airport Corporation (AGMCAC) to Aboitiz InfraCapital Inc. (AIC) for P7.76 billion.
MEGAWIDE Construction Corp. has finalized its divestment from Mactan-Cebu International Airport , transferring its remaining 33.33-percent plus one share in Aboitiz GMR Megawide Cebu Airport Corporation to Aboitiz InfraCapital Inc. for P7.76 billion.
The transaction will push Megawide’s current ratio—a measure of liquidity—from 1.29x at the end of December 2023 to an expected 1.54x by the end of 2024. “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 – which serves as our unique competitive advantage against other industry players – and our other infrastructure projects, including the Paranaque Integrated Terminal Exchange .
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