Ports tycoon Enrique “Ricky” Razon has gobbled up the 20 percent stake of Japan’s Marubeni in Bauan International Port, Inc. (BIPI).
Razon paid P507.407 million for Marubeni’s 2.05 million shares in the Bauan Port, a roll-on/roll-off and project cargo terminal serving the region’s automobile and construction industries.
Japanese car makers Mitsubishi and Honda use the Bauan port, located 120 kilometers south of Manila and nine kilometers west of Batangas City, as their main gateway for their automotive and parts shipments to their plants in Calabarzon.