Philippines – Aboitiz acquires shares in Mactan-Cebu airport operator; to take control in 2024
With the arrival of a new president in The Philippines – the son of a famous predecessor – privatisation is back on the agenda in multiple sectors, including airports, with several projects on the go around Manila.
The second busiest airport is not located there, though; rather, it is on the tourist island of Mactan. It was privatised almost a decade ago under a 25-year concession and now the original concessionaires, Megawide and GMR Airport, are selling their equity in two stages.
The fact that the holding company of the buyer, Aboitiz, is headed up by an advisor to the new president says much about the direction the government is likely to take regarding the future privatisation of airports in the country.
Airports are attractive to Philippines-based conglomerates generally, and there should be no problem in attracting them to that infrastructure in the future.
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