MEGAWIDE Construction Corp. has unloaded its remaining stake in Aboitiz GMR Megawide Cebu Airport Corp. (AGMCAC) — the operator of the Mactan Cebu International Airport — to Aboitiz InfraCapital Inc. (AIC) for P7.76 billion.
MEGAWIDE Construction Corp. has unloaded its remaining stake in Aboitiz GMR Megawide Cebu Airport Corp. — the operator of the Mactan Cebu International Airport — to Aboitiz InfraCapital Inc. for P7.76 billion.In a disclosure, Megawide said that it had 'opted to exchange its remaining 33 and 1/3 percent plus 1 share of outstanding capital stock' in AGMCAC.
'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 Parañaque Integrated Terminal Exchange,' Megawide Chairman and Chief Executive Officer Edgar Saavedra said.
Sells Mactan Airport Stake For P7.76B
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Megawide unloads remaining shares in Mactan-Cebu Airport to Aboitiz for P7.76BLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Aboitiz Construction secures new contractABOITIZ Construction Inc. has been awarded maintenance contracts for Aboitiz Power Corp. subsidiary AP Renewables Inc. (APRI) and cement producer Cemex Philippines.
Read more »
Megawide Corporate Foundation, Inc. supports DENR’s International Coastal Clean-UpIn its continuing efforts to contribute to environmental sustainability, Megawide Corporate Foundation, Inc. (“MCFI” or “Foundation”) - the corporate social responsibility arm of Megawide Construction Corporation (“Megawide”) - participated in the International Coastal Clean-Up Drive 2024 held at the Dolomite Beach, Manila Bay, last September 21.
Read more »
Aboitiz Land announces change in leadership, names Rafael Fernandez de Mesa new CEOAboitiz Land, Inc., the real estate arm of the Aboitiz Group, has announced the appointment of Rafael Fernandez de Mesa as the company’s new Chief Executive Officer effective January 1, 2025.
Read more »
Aboitiz InfraCapital wins P12.75-B contract to operate Laguindingan AirportThe concession agreement, which expands the company’s airport portfolio to Mindanao, will be signed by the tailend of October
Read more »
Aboitiz Land announces change in leadership, names Rafael Fernandez de Mesa as new CEOABOITIZ Land Inc., the real estate arm of the Aboitiz Group, has announced the appointment of Rafael Fernandez de Mesa as the company's new chief executive officer (CEO), effective Jan. 1, 2025.
Read more »