12.14.2020 - NEWS
December 13, 2020 [Hydrocarbon Engineering] – Keppel Infrastructure Fund Management Pte Ltd (KIFM), as the Trustee-Manager of Keppel Infrastructure Trust (KIT), is pleased to announce that KIT and Metro Pacific Investments Corp. (MPIC) have entered into a conditional sale and purchase agreement with Philippine Investment Alliance for Infrastructure (PINAI) to acquire 100% interest of Philippine Tank Storage International (Holdings) Inc. (PTSI) which owns Philippine Coastal Storage & Pipeline Corp. (PCSPC), a petroleum products import storage facility in the Philippines.
Upon completion of the proposed acquisition, it is intended that KIT will indirectly hold 80% of the shares in PTSI, and MPIC will indirectly hold 20% of the shares in PTSI. The purchase consideration payable by KIT will be in proportion to its respective shareholding in PTSI and is estimated to be US$267 million (approximately S$357.6 million
December 14, 2020 | 12:01 am Font Size
OUTLIER
METRO PACIFIC Investments Corp. (MPIC) was among the most active stocks last week as investors reacted following news of its acquisition of a petroleum products terminal and the suspension of its toll operations’ business permit.
Data from the Philippine Stock Exchange showed a total of 173.64 million MPIC shares worth P765.28 million were traded from Dec. 7-11, making it the twelfth most actively traded stock in the local bourse last week.
Shares in the Manuel V. Pangilinan-led company closed lower by 3.5% week-on-week to P4.39 apiece from its P4.55 finish on Dec. 4. The stock has gone up 30.7% since the start of the year.