Maharlika Investment Corp, the Philippine sovereign wealth fund, is acquiring 11.2% of Asian Terminals Inc while Singapore-listed Keppel said it will sell its remaining stakes in two data centres.
PH wealth fund Maharlika to buy 11.2% of Asian Terminals
Philippine sovereign wealth fund Maharlika Investment Corp (MIC) is acquiring up to 11.2% of listed port operator Asian Terminals Inc (ATI), in a deal that will run alongside ATI’s planned voluntary delisting from the local bourse.
In a statement, MIC said it intends to acquire up to 101.19 million common shares, valuing the purchase at about 3.64 billion pesos ($61.8 million). The offer is a secondary market transaction and does not amount to a capital injection for operational expansion.
ATI’s board has approved the delisting and expanded its share buyback program to 5 billion pesos to buy out remaining public-float and employee-held shares via the tender offer.
In a social media post, MIC president and CEO Rafael Consing Jr confirmed the investment, saying the port sector is “the circulatory system of the Philippine economy”.
ATI said it will amend its articles to expand its board to nine seats, allowing MIC representation if it ends up owning more than 9% once the delisting takes effect. It operates Manila South Harbor and Batangas port facilities, among other terminals.
Keppel exiting two Singapore data centres
Singapore-listed Keppel Ltd said it will sell its remaining stakes in two data centres to Keppel DC REIT for S$50.5 million (about $37.7 million) in cash.
In a statement, Keppel said its Connectivity Division agreed to divest a 10% interest in Keppel DC Singapore 3 and a 1% interest in Keppel DC Singapore 4. The transactions are expected to be completed in the first quarter of 2026, after which Keppel DC REIT will own 100% of both assets.
Keppel said the sale will take its announced monetisations this year to more than S$2.4 billion and will allow it to recycle capital for other investments.
Keppel DC REIT said it will fund the deal using part of the proceeds from a recent preferential offering and units issued for the acquisition fee.
