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MANILA, Philippines – Aboitiz Equity Ventures Inc. (AEV) has secured a key regulatory approval for the entry of a BlackRock-backed infrastructure investor into its infrastructure arm, bringing the transaction a step closer to completion.
In a disclosure on Thursday, AEV said it had received a certificate from the Philippine Competition Commission (PCC) clearing the acquisition by Global Infrastructure Partners (GIP) of a 40-percent ownership interest in Aboitiz InfraCapital Inc. (AIC).
READ: AEV inks deal to sell 40% of Aboitiz InfraCapital for P13.7B
“The transaction supports AEV’s disciplined portfolio management approach and its broader transformation into a techglomerate, while driving inclusive growth and long-term stakeholder value,” the company said.
