- Current Price:
- Previous Closing Price:
- Opening Price:
- Day's Range:
- 4.76 - 4.90
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- Last Update Date:
- 2018-06-19 01:29:06
Metro Pacific Investments Corporation (MPI) was incorporated on March 20, 2006 as an investment holding company. The Company is organized into the following segments based on services and products: water utilities; toll operations; power distribution; healthcare; rail; and others such as real estate and provision of services.
In 2013, MPI made its offshore investment, through its wholly-owned subsidiary MPIC Infrastructure Holdings Limited (MIHL), by acquiring a 25% ownership in FPM Infrastructure Holdings Limited (FPM Infra), which holds a 29.45% stake in a Thai toll road operator, Don Muang Tollway Public Ltd. In 2014, MPI acquired, through MIHL, from First Pacific Company Limited the remaining 75% ownership in FPM Infra.
MPI, through subsidiary Metro Pacific Tollways Corporation, further expanded its regional footprint through a 45% effective interest in CII Bridges and Roads Investment Joint Stock Co., a toll road company located in Ho Chi Minh City in Vietnam with about 123 kilometers of toll road and bridges in total.
The Company's subsidiaries are Maynilad Water Holding Company, Inc.; Metro Pacific Light Rail Corp.; MetroPac Water Investments Corporation; Metro Pacific Hospital Holdings, Inc.; MPIC-JGS Airport Holdings, Inc.; Porrovia Corporation; Fragrant Cedar Holdings, Inc.; Neo Oracle Holdings, Inc.; Metro Global Green Waste, Inc.; and MetroPac Logistics Company, Inc.
On May 30, 2016, MPI and PLDT Communications and Energy Ventures, Inc. (PCEV) entered into a sale and purchase agreement for MPI to acquire a further 25% interest in Beacon Electric Asset Holdings (BEAH), which owns 35% of Manila Electric Company (MER) and 56% of Global Business Power Corporation (GBPC). Upon completion, MPI will continue to own a direct 15% interest in MER and, through its 75% interest in BEAH, a further 26.2% - thereby taking its effective ownership interest in MER to 41.2% and in GBPC to 42% directly and about 9.1% indirectly through MER. PCEV’s interest in MER will be reduced to an effective interest of 8.7%.
Source: SEC Form 17-A (2015)/Disc. No. 3072-2016