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Philippines Newsletter - October 2022

Market Summary

  • The Telecommunications & Media sector experienced the largest deal activity last month, led by PLDT's sale of 4,000+ towers for a total transaction value of USD993.6m. In addition to this, several local players made new partnerships with foreign companies, namely Gur Lavy Corp., Snowflake, Warner Bros. Discovery, and FLOW Digital Infrastructure.

  • Prime Infrastructure, led by Enrique Razon, announced their postponement of their USD450m+ IPO to mid-next year. However, the Industrials sector still saw two acquisitions: (1) GLOBAL Ferronickel Holdings, Inc. acquired a 20% stake in GCTN, and (2) NICKEL ASIA Corp. bought 33m+ shares of Corabl Bay Nickel Corp.

Aggregate Deal Value* = USD1,408.8m


This month’s top deals

Energy & Utilities

CREIT set to issue ASEAN green bonds to expand its real estate portfolio

CITICORE Energy REIT Corp. (CREIT) said on Tuesday that it will be tapping the capital markets for the issuance of ASEAN green bonds in the fourth quarter of this year to expand its real estate asset portfolio.

Articles links:

Telecommunication & Media

MacroAsia’s TERA targets to become major internet service provider, partners with Gur Lavi

TERA Information and Connectivity Solutions, Inc. (TERA), a subsidiary of MacroAsia Corp., is working to become a fixed-line internet service provider for both business and residential users in the next three to five years, a company official said…. “That’s our aspiration … for the next three to five years,” TERA General Manager Anthony G. Hilario told reporters on Friday after the company signed a partnership deal with telco solutions distributor Gur Lavi Corp.

Globe stock rights offer raises P17 billion

US-based Snowflake enters PHL, partners with Globe

ABS-CBN, Warner Bros. ink deal on airing of shows in Asia

AyalaLand Logistics, FLOW to commence data center activities

PLDT gets P57.7B from sale of 4,435 towers

Article links:

Real Estate

Arthaland readies P3-billion fixed-rate ASEAN green bond issuance

PROPERTY developer Arthaland Corp. plans to issue P3 billion worth of fixed-rate ASEAN green bonds possibly late this year to raise funds for eligible “green” projects.

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Industrials & Manafacturing

Philippine tycoon postpones $474 mln Prime Infrastructure IPO on bearish market

Philippine tycoon Enrique Razon has delayed to the middle of next year plans to launch an up to 28 billion pesos ($474 million) listing for his infrastructure and energy holding firm because of a market downturn, its underwriter said on Monday.

Global Ferronickel acquires 20% stake in Chinese firm

Nickel Asia buys shares in metal processing firm

Article link:

Retail and F&B

DA, Nestlé PH partner to boost local coffee production

THE Department of Agriculture (DA) has partnered with Nestlé Philippines amid a decline in domestic coffee production. Agriculture Senior Undersecretary Domingo Panganiban met with Nestlé officials to support the implementation of the Coffee Industry Roadmap 2021 to 2025.

Macay set to acquire RC Global Beverages for $21.4M

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Note: Deal values only include disclosed completed deals with amounts restricted to the local scene i.e. amounts related to the Philippine entity and/or business. Rumored, announced, or planned deals are not included. Cross-posted deals are also adjusted to avoid double count.

*USD 1.00 = PHP58.07as of 10/11/2022


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