PCC clears GIP’s 40% stake in Aboitiz InfraCapital

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.

The PCC clearance satisfies one of the closing conditions under the deal announced in December last year. AEV said the parties are now working to complete the remaining requirements before the transaction can be finalized.

Under the agreement signed on Dec. 23, 2025, GIP—through GIP EM Onyx Pte. Ltd.—will subscribe to and purchase shares equivalent to a 40-percent equity stake in AIC.

The transaction involves 1.15 billion common shares and 1.41 billion redeemable preferred shares in AIC for a total consideration of about P13.71 billion.

Of the total amount, around P4.65 billion will be paid directly to AIC, while the balance will be paid to AEV.

AEV said the partnership is intended to bring in a strategic investor with extensive global infrastructure expertise.

According to the company, GIP’s experience spans transport, energy, water and digital infrastructure assets, with a focus on operational excellence, sustainability and long-term value creation.

The Aboitiz group expects the partnership to provide access to institutional expertise, best practices and additional resources that could help strengthen AIC’s existing platform.

AIC holds a diversified portfolio of infrastructure-related investments in the Philippines, including airport operations, bulk water distribution and telecommunications towers.

AEV added that the transaction forms part of its disciplined portfolio management strategy and supports its broader transformation into a “techglomerate” while pursuing long-term stakeholder value creation. INQ