Aboitiz InfraCapital assumes full ownership of AGMCAC
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Background ✨
Megawide Construction Corporation sold its remaining 33.3% plus one share in Aboitiz GMR Megawide Cebu Airport Corporation for PHP7.8 billion to improve liquidity and reduce liabilities1. Previously, Megawide and GMR Airports International agreed to divest their stakes in GMCAC to allow Aboitiz InfraCapital's entry2 3. This cooperative transition involved a share subscription and transfer agreement, further solidifying Aboitiz InfraCapital's full ownership of the airport operation3.