Metro Pacific Investments

Philippine conglomerate From Wikipedia, the free encyclopedia

Metro Pacific Investments Corporation (MPIC) is a Philippine unit investment holding company of First Pacific Company Limited through Metro Pacific Holdings, Inc.[2][3][4][5] 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.

TypePrivately-held investment company
FoundedMarch 20, 2006; 20 years ago (2006-03-20)
Headquarters9th Floor, Tower One, Rockwell Business Center, Ortigas Avenue, Ortigas Center, Brgy. Ugong, 1604,
Pasig
,
Philippines
Area served
Philippines
Quick facts Type, Founded ...
Metro Pacific Investments Corporation
TypePrivately-held investment company
FoundedMarch 20, 2006; 20 years ago (2006-03-20)
Headquarters9th Floor, Tower One, Rockwell Business Center, Ortigas Avenue, Ortigas Center, Brgy. Ugong, 1604,
Pasig
,
Philippines
Area served
Philippines
Key people
RevenueIncrease PHP50.88 billion (2022)
Increase PHP16.94 billion (2022)
Increase PHP13.14 billion (2022)
Total assetsIncrease PHP643.8 billion (2022)
Total equityIncrease PHP245.04 billion (2022)
OwnerMetro Pacific Holdings, Inc. (46.28%)[2]
GT Capital (18%)
Mit-Pacific (14.51%)
Government Service Insurance System (11.56%)
MIG Holdings (of Manny V. Pangilinan)(7.10%)
Social Security System(1.78%)
Ramon S. Ang (undisclosed)
ParentFirst Pacific Company Limited
SubsidiariesDMCI-MPIC Water Company, Inc.
Metro Pacific Tollways Corporation
Neo Oracle Holdings Inc.
Beacon Electric Asset Holdings Inc.
Websitewww.mpic.com.ph
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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" (MPC) [6][7][8][9][10][11][12] now renamed to "Neo Oracle Holdings, Inc." .[13][14] This included the creation, master planning and development of Bonifacio Global City[15] before selling out to Ayala Land and Campos groups.[16]

As part of MPC's corporate rehabilitation, recapitalization and reorganization program, MPIC, an entirely new entity was created in March 2006. Through matters such as share swaps, shareholders of MPC became the shareholders of MPIC, and MPC became a subsidiary of MPIC - the Board of Directors and executive management of both ended up being essentially the same as it was before the program. MPIC was intended to emerge as a new, debt-free investment company to continually expand the real estate business of MPC thru Landco, raise new capital from existing and new investors and make new investments in infrastructure amongst others. MPIC thereafter directly owned a majority of Landco and of MPC. The stake in Landco was however reduced to below 40% in 2009,[17][18] to help raise capital for the prioritized ventures in power, telecommunications and tollway businesses. MPIC did eventually buy back all of the shares so that LandCo again became a wholly-owned subsidiary, around 12 years later.[19][20]

MPC, now as Neo Oracle, continues to exist as an unlisted corporate entity (used to own certain other assets that were eventually divested off) as of 2020[21]

In May 2016, over ten years later after MPIC's incorporation, GT Capital Holdings Inc. (GTCAP, parent of Metropolitan Bank and Trust Company among other business of the Ty family), 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. GTCAP 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), MPIC immediate parent company and a Philippine affiliate of First Pacific, at the same price, for a total of PHP 7.93 billion in cash. These transactions resulted in GTCAP 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.[22]

As initially hinted at on late April 2023,[23] the company formally filed in August 2023 for voluntary delisting from the Philippine Stock Exchange (PSE).[24] 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.[25][26]

Subsidiaries

Water

  • Maynilad Water Holding Company Inc.
  • Metropac Water Investments Corporation
    • Manila Water Consortium Inc.
      • Cebu Manila Water Development Inc.
    • Tuan Loc Water Resources Investment Joint Stock Company (Vietnam) - 49%[27]
    • Metro Pacific Iloilo Water (MPIW)[28]

Power

BEACON is a special purpose company formed in early 2010[33][34][35] 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.[36] 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 700 MHz spectrum from San Miguel Corporation.[37] It indeed did that the next year.[30]

Infrastructure / Transport

Logistics

Healthcare

Food and Beverage

Real Estate

  • Landco Pacific Corporation
  • Metro Vantage Properties, Inc.

Finance

Education

Others

Divestments

References

External links

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