Milbank LLP advised long-time client Metro Pacific Investments Corporation (MPIC) on the completion of the sale of its indirect stake in Philippine Coastal Storage & Pipeline Corporation (PCSPC), together with Singapore-listed Keppel Infrastructure Trust, which also sold its indirect stake in PCSPC to an affiliate of global infrastructure investor I Squared Capital (ISQ). PCSPC is the largest jet fuel, petroleum and sustainable fuels import terminal in the Philippines. The transaction was announced in October 2024.
“We are pleased to have been able to support MPIC on this very important transaction which was a step in the Company’s long-term strategy to focus on businesses where they can create the greatest value for the Philippines,” said James Grandolfo, Milbank Global Corporate Finance and Securities partner and Hong Kong office managing partner.
Milbank Global Corporate partner Andrew Whan added, “We’re delighted to have assisted MPIC on this important strategic disposal.”
The Milbank team in Hong Kong was led by Mr. Grandolfo and Mr. Whan and included associates Ari Singzon and Matthew Leung.
