Japan’s Mitsui & Co., one of the world’s largest corporations, is joining the MVP group and GT Capital’s tender offer to take Metro Pacific Investments public.
In a disclosure, Mitsui, through Mit-Pacific Infrastructure Holdings (a joint venture of Mitsui and Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development) will buy up to 20 percent of MPI under the tender offer to become “a shareholder for the first time in a new strategic initiative.”
“By combining MPI’s business foundation with Mitsui’s long-standing capabilities and experience in the global infrastructure business, we will contribute to the energy transition in the Philippines,” said Takehiko Ainoya, Mitsui’s General Manager of Division I (Asia), Infrastructure Projects Business Unit.
“In addition, we will support MPI’s business development and create collaborative projects by leveraging our comprehensive capabilities in the digital field and other areas, thereby enhancing MPI’s corporate value,” he added.
Mitsui sees the investment as a “unique opportunity to acquire a portfolio of assets encompassing core infrastructure such as power, water, and tollways in a market that is expected to enjoy sustained economic growth in the years ahead.”
Mitsui believes that its leading capabilities and expertise in the global infrastructure business would provide MPI with long-term value and synergies.
Bilyonaryo.com was the first to report Mitsui’s buy-in on January 20.
The MPI board approved the delisting and tender offer price of P4.63 on April 26.