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Metro Pacific Investments

Metro Pacific Investments Corporation (MPIC) is a Philippine unit investment holding company of First Pacific Company Limited through Metro Pacific Holdings, Inc. MPIC through its subsidiaries, provides water, sanitation, and sewerage services and also operates in real estate, and infrastructure projects. It also invests in some hospitals in the Philippines.

History

First Pacific's Philippine investment holding interests other than that of PLDT and Philex Mining were in the distinct, similarly-named juridical entity "Metro Pacific Corporation" now renamed to "Neo Oracle Holdngs, Inc.". This included the creation, masterplanning and development of Bonifacio Global City before selling out to Ayala Land and Campos groups.

In May 2016, GT Capital Holdings Inc. (GTCAP) acquired 15.6 percent of MPIC, which will, in turn, buy control over GTCAP's Global Business Power Corporation in a deal worth PHP 29.89 billion. T acquired 3.6 billion new common shares in MPIC at PHP 6.10 per share amounting to a stake of 11.4 percent on an expanded capital base for a total cash consideration of PHP 21.96 billion. It also acquired a further 1.3 billion common shares in MPIC from Metro Pacific Holdings, Inc. (MPHI), a Philippine affiliate of First Pacific, at the same price, for a total of PHP 7.93 billion in cash. These transactions resulted in GT Capital holding an overall stake of 15.6 percent of the common share capital of MPIC in a new business alliance between the two business groups.

As initially hinted at on late April 2023, the company formally filed on August 2023 for voluntary delisting from the Philippine Stock Exchange (PSE). The company completed its tender offer on September 19, acquiring 5.46 billion common shares equivalent to 19% of the company and was eventually delisted effective October 9. Eight days later on October 17, Ramon S. Ang was elected a member of the company's board of directors after making a direct investment in MPIC. However, the size of Ang's investment was not disclosed.

Subsidiaries

Water

  • Maynilad Water Holding Company Inc.
  • Maynilad Water Services - 83.96% controlling stake
  • Metropac Water Investments Corporation
  • Manila Water Consortium Inc.
  • Cebu Manila Water Development Inc.
  • Tuan Loc Water Resources Investment Joint Stock Company (Vietnam) - 49%
  • Metro Pacific Iloilo Water (MPIW)

Power

  • Manila Electric Company (MERALCO) - holds 10.5% direct stake
  • Radius Telecoms, Inc. - 100% owned
  • SP New Energy Corp.
  • Beacon Electric Asset Holdings Inc.

<small>A special purpose company formed in early 2010 by the consortium of sister company PLDT and PLDT Communication and Energy Ventures (formerly Piltel, itself owned by PLDT) whose sole purpose is to hold the group's shares in MERALCO. On May 30, 2016, Bloomberg reported that PLDT would sell its shares in Beacon to MPIC in order to fund the jont-venture with Globe to acquire the 700MHz spectrum from San Miguel Corporation. It indeed did that the next year.</small>

Infrastructure / Transport

Logistics

Healthcare

  • Metro Pacific Health Tech Corporation
  • In July 2021, MPIC launched its first high-performance mobile app, called mWell PH.

Food and Beverage

  • Metro Pacific Agro Ventures, Inc.
  • The Laguna Creamery Inc. (Carmen's Best Ice Cream - 51% stake)
  • Carmen’s Best Dairy Products, Inc.
  • Carmen’s Best International Dairy Co. Inc.
  • Real Fresh Dairy Farms Inc.
  • Axelum Resources Corp (34.8%)
  • Universal Harvester Dairy Farms Incorporated (UHDFI) - Bukidnon Milk Company
  • Metro Pacific Coconut Holdings Corporation
  • Franklin Baker Group of Companies

Real Estate

  • Landco Pacific Corporation
  • Metro Vantage Properties, Inc.

Finance

Education

Others

  • Viva Communications (2.89%)
  • IdeaSpace Foundation (QBO Philippines - startup incubator based in Makati City)
  • Metro Pacific Resource Recovery Corporation
  • MetroPac Apollo Holding, Inc.

Divestments

References

External links