Article by:
Anna Leah Gonzales
MANILA – Maharlika Investment Corporation (MIC) has completed its acquisition of shares in Asian Terminals, Inc. (ATI).
In a statement on Tuesday, MIC said it finalized the crossing and settlement of shares acquired through its tender offer.
The shares were crossed through the Philippine Stock Exchange on March 13, 2026, with settlement completed on March 17, 2026.
The acquisition included shares from Seawood Resources, Inc., Kayak Holdings, Inc., Asiasec Equities Inc., and other ATI shareholders who joined the tender offer.
The transaction covered 177.6 million ATI common shares, with 101.2 million allocated to MIC and 76.4 million to ATI under its share buyback program.
Following the deal, MIC became a shareholder of ATI, securing a stake in a key port and logistics operator.
“When we first announced this intent in December, I described the port sector as the 'circulatory system of the Philippine economy.' Today, we have successfully secured our place within that system,” MIC President and CEO Rafael Consing Jr. said.
“This investment fulfills our mandate to capture value from assets with high barriers to entry and a direct correlation to our nation’s GDP growth. With our successful entry and election to the ATI Board, we now have the seat at the table necessary to ensure this asset continues to redound to the public benefit,” he added.
MIC said the investment is expected to create jobs, improve logistics and supply chain efficiency, and accelerate digitalization in port operations.
“Our shared victory is what will make MIC successful. We are enhancing our sovereign capability to generate sustainable wealth. This is exactly what we were built to do,” Consing said.
MIC manages the Maharlika Investment Fund, the country’s sovereign wealth fund, and invests in key sectors such as infrastructure, energy, agriculture, and digitalization. (PNA)
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