Megawide Construction Corporation (“MWIDE”), GMR Airports International BV (“GAIBV”), and Aboitiz InfraCapital, Inc. (“AIC”) executed a Share Subscription and Transfer Agreement (the “Agreement”) today where AIC will subscribed to shares of GAIBV.

Megawide (MWIDE) shares has been moving up from the past several days pricing in the shares subscription of AEV.  It peaked by 19% in just 2 trading days.

Aboitiz Equity Ventures shares were also up by 6% for todays trading.

Megawide corporation is the developer and operator of the award-winning Mactan Cebu International Airport (“MCIA”).

If the deal would push through it will be executed on Closing Date (which is approximately 105 days from the Execution Date):

The details of the disclosure is stated below

1. For a total amount of Php 9,473,600,000.00, AIC shall own 33 and 1/3% minus 1 share of the outstanding capital stock of GMCAC; MWIDE will retain 33 and 1/3% plus 1 share, while GAIBV will retain 33 and 1/3%.

2. MWIDE and GAIBV shall issue Exchangeable Notes in favor of AIC in the total amount of Php 15,526,400,000.00 (the “Notes”). The Notes will mature on 30 October 2024, and will be exchanged by AIC for the rest of the 66 and 2/3% plus 1 share of GMCAC’s outstanding capital stock.

According to BDO Capital & Investment Corp. President Eduardo V. Francisco the deal would help each other to support their finances.

“The transaction was accepted and deemed fair by all parties and aligned with their respective long-term goals. For GMCAC, the infusion provides it more financial muscle, with a higher capitalization, bigger balance sheet, and an improved gearing ratio. It also paves the way for the entry of another experienced and strong industry player,” said BDO Capital & Investment Corp. President Eduardo V. Francisco.

In the construction business, Megawide bagged several big-ticket projects, such as the Malolos-Clark Railway Project and the Metro Manila Subway System Project, to spearhead its pivot to infrastructure.

The Company is also exploring several transport-centric development (TCD) locations to complement its hub-and-spoke model with the Paranaque Integrated Terminal Exchange and engaging in its own brand of urban renewal through the Carbon Market Redevelopment. “In the medium-term, we are seriously looking at diversifying into other exciting and high growth infrastructure platforms, where we can leverage our engineering and construction expertise. At the end of the day, we believe it is the further value creation, which the transaction unlocks, that makes it very rewarding and exciting, and something to look forward to,” Saavedra ended.

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Item Photo	Cost (Php)	Item Description
Click Here to View	456.0	Original Portable Hanging Neck Fan Rechargeable Usb Mini Fan Electric Fan Headset Fan Outdoor Sports
Click Here to View	1,399	OPPO Band B1 Bluetooth Watch 1.1-inch AMOLED Screen Continuous SpO2 Monitoring 50M Water Resistance
Click Here to View	5,290	realme C11 2021 (2+32GB)

ABS CBN and TV5 decided to scrap their previous mutual agreement for the plan share swap deal which saw the stock price of ABS CBN upsurge by 40% after previous disclosures. Currently ABS CBN share price dipped by as much as 22% from its peak.

Last week, there was only a momentary pause to address the issues which have been raised by certain legislators and the National Telecommunications Commission on the proposed investment by ABS-CBN for a minority interest in TV5.

As of today it is now confirmed that the agreement will be terminated. ABS CBN had a momentary trading halt as disclosed on PSE edge.

“Request for a one-hour halt of the trading of ABSP in view of disclosures made by ABS-CBN Corporation on the termination of the parties of the Investment Agreement and Convertible Note Agreement with TV5 Network, Inc. relating to ABS-CBN Corporations’ investment in TV5 and of the Sale and Purchase Agreement and Debt Instruments Agreement in relation to the sale of the ABS-CBN Corporation’s shares in Sky Cable Corporation to Cignal Cable Corporation.”

In a recent statement from ABS CBN “Sky Vision Corporation (“Sky Vision”), ABS-CBN Corporation, Lopez, Inc., and Cignal Cable Corporation (“Cignal Cable”), announced that they have mutually agreed to terminate the Sale and Purchase Agreement dated 10 August 2022 covering the proposed acquisition by Cignal Cable of 38.88% equity interest in Sky Cable Corporation and the Debt Instruments Agreement dated 10 August 2022 covering the proposed subscription by Cignal Cable to an Exchangeable Debt Instrument to be issued by Sky Vision and the proposed acquisition by Cignal Cable of a Convertible Note issued by Sky Cable.

The termination was formalized through a Memorandum of Agreement. The Parties confirmed that they have not implemented any of the transactions covered by the Sale and Purchase Agreement and the Debt Instruments Agreement”

DISCLAIMER: Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my website so I can continue to provide you with free content each week!

Item Photo	Cost (Php)	Item Description
Click Here to View	456.0	Original Portable Hanging Neck Fan Rechargeable Usb Mini Fan Electric Fan Headset Fan Outdoor Sports
Click Here to View	1,399	OPPO Band B1 Bluetooth Watch 1.1-inch AMOLED Screen Continuous SpO2 Monitoring 50M Water Resistance
Click Here to View	5,290	realme C11 2021 (2+32GB)