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Manila Bulletin devider Business devider The Stock Market devider BlackRock's GIP finalizes ₱13.7-billion purchase of 40% of Aboitiz InfraCapital

BlackRock's GIP finalizes ₱13.7-billion purchase of 40% of Aboitiz InfraCapital

Published Dec 26, 2025 10:06 am
Sabin M. Aboitiz
Sabin M. Aboitiz
BlackRock Inc., a United States (US) investment firm with $12.5 trillion in assets under management (AUM), has acquired a 40-percent stake in Aboitiz InfraCapital Inc. (AIC) through Global Infrastructure Partners (GIP) for ₱13.7 billion.
In a disclosure to the Philippine Stock Exchange (PSE), Aboitiz Equity Ventures Inc. (AEV) said it has completed the definitive agreements with GIP formalizing their strategic partnership in AIC.
AIC develops, operates, and manages investments in critical infrastructure across airports, water and wastewater, and digital infrastructure, providing platform governance and shared services across its portfolio.
“GIP brings deep global expertise across energy, transport, digital infrastructure, and utilities, which will strengthen AIC’s ability to scale, deliver faster, and create long-term value,” said Aboitiz Group Chief Executive Officer (CEO) Sabin M. Aboitiz.
GIP Emerging Markets (EMs) Partner Ray Nadarajah said, “We are very pleased to partner with Aboitiz InfraCapital as we work together to help accelerate infrastructure development in the Philippines.”
“This collaboration reflects our shared commitment to supporting long-term, sustainable growth across the country. By combining our global investment capabilities with Aboitiz’s deep local expertise, we aim to help deliver essential infrastructure that strengthens communities, drives economic progress, and creates lasting value,” he added.
The parties signed the share subscription and purchase agreement and shareholders’ agreement covering GIP’s investment in AIC.
Under the agreements, GIP is expected to invest a total of ₱13.7 billion through a combination of a secondary share purchase from AEV and a primary share subscription in AIC. AEV will receive ₱9.06 billion, while AIC will get ₱4.65 billion.
Upon completion of the transaction, GIP is expected to hold 40 percent of AIC, while AEV will retain a 60-percent controlling interest.
The transaction remains subject to the satisfaction of customary closing conditions and the receipt of required regulatory approvals.
The partnership builds on the July 2025 disclosure and reflects strong confidence in the Philippine infrastructure sector, supporting the continued growth and long-term development of AIC’s diversified infrastructure portfolio.
The deal was discussed last July during a high-level meeting held in the US on the sidelines of President Ferdinand R. Marcos Jr.’s tariff negotiations with US President Donald Trump. Marcos sat down with the Aboitiz Group CEO and Mayo Ogunlesi, GIP chair and CEO.
AEV said the transaction is intended to bring in a strategic investor in AIC. GIP brings deep global experience in infrastructure investing across transport, energy, water, and digital assets, with a strong focus on operational excellence, sustainability, and long-term value creation.
GIP’s entry will support AIC’s existing infrastructure platform and provide access to additional institutional expertise, best practices, and resources.
“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,” it said.
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