Aboitiz unit takes over airport firm

By The Manila Times

Nov 01, 2024 12:17 am

ABOITIZ InfraCapital Inc. (AIC), the infrastructure arm of the Aboitiz Group, on Thursday assumed full ownership of Aboitiz GMR Megawide Cebu Airport Corp. (AGMCAC), the developer and operator of Mactan-Cebu International Airport (MCIA).

AIC completed the exchange of a previously issued P15.5 billion in notes from Megawide Construction Corp. and GMR Airports International B.V. (GAIVB) for the remaining 66 and two-thirds percent plus one share of AGMCAC's outstanding capital stock.

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