GMR-Megawide venture challenges tycoons’ Manila airport bid with $3b offer


The venture has challenged a $6.7 billion bid from a group that includes billionaires John Gokongwei and Lucio Tan.

Philippine Digest: SM acquires $346m property; Chelsea’s acquisitions pay off

SM acquired the prime seafront property from UK-based investment fund Ashmore.

Philippines plans to announce new telecoms player in June

Now Corp and Philippine Telegraph and Telephone Corp, have publicly said they are planning to bid.

Philippines: Antitrust body approves San Miguel’s $1.9b power plant acquisition

The Philippine Competition Commission (PCC) approves SMC’s acquisition of the 630-megawatt Masinloc coal power plant in Zambales.

Philippines: 500 Startups-backed property solutions firm Qwikwire raises fresh funds

The company has already raised over $460,000 previously from 500 Startups, JFDI, and Manila Angel Investors Network.

Philippine conglomerate Ayala Corp acquires Silicon Valley solar firm Merlin Solar

Ayala’s arm AC Industrials will hold a 78.2% stake in Merlin upon completion of the transaction.

Philippines: Logistics major 2GO invests in on-demand delivery startup Mober

The proceeds will be used to further enhance the Mober app, in addition to expanding its business and adding more van partners.

Philippines: Manila Water to acquire 18.72% stake in Thailand’s Eastern Water

The deal marks a foray into Thailand for Manila Water, a subsidiary of the Philippines’ oldest conglomerate Ayala Corporation.

Carmudi seeks to increase market penetration in the Philippines with fresh funds

Rocket Internet-backed online car classifieds startup Carmudi has recently raised $10 million in funding, led by Tengelmann Ventures.

San Miguel readies for food business stake sale estimated to fetch $1.5b

A $1.5 billion offering would be the largest ever equity deal in the Philippines.