Metro Pacific Investments Corp. is one of the largest infrastructure groups in the Philippines. (Photo courtesy of Metro Pacific Investments)
TOKYO — Japanese trading house Mitsui & Co. said Wednesday it has purchased a 21.9 billion-yen ($148 million) stake in Philippine infrastructure giant Metro Pacific Investments Corp. (MPIC), as part of a buyout by a consortium.
A consortium spearheaded by MPIC Chief Executive Manuel Pangilinan on Tuesday completed the tender offer for a total of 28.4 billion pesos ($501 million). Mitsui acquired a 5.6% stake.
