Going Filipino: Singapore GIC invests almost $500 million in 2 Philippine companies

They’re from the food and medical sectors.

Singapore GIC, one of the ten largest sovereign wealth funds in the world, manages more than US$100 billion in assets and has decided to invest a part of those assets in the Philippine market.
A report by Milbank, one of GIC’s financial advisers, reveals that the fund made an approximately US$77 million investment through its private equity arm in the form of an exchangeable loan in Century Canning Corp., parent company of Century Pacific Food (CNPF), one of the Philippine’s largest canned fish and meat dairy products. The investment is exchangeable for shares of CNPF that would give GIC a roughly 11% stake in the company.

The second transaction involves an approximately US$84 million investment in hospital group Metro Pacific Investment Corporation (MPIC). GIC will receive a 14.4% stake in the holding company established by MPIC for its hospital assets,Neptune Stroika Holdings Inc. An approximately US$149 million exchangeable bond that GIC is also providing MPIC will be convertible, under certain conditions, into a 25.5% stake in Neptune.

Also Read

Food factory at 30 & 32 Tuas Avenue 12 up for sale for $19.0m

Singapore Polytechnic launches training facility for food manufacturing

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit