Published on 11 September, 2012 - 09:46
The Ayala and Aboitiz groups—two of the country’s biggest and oldest conglomerates both led by Hispanic families—have teamed up to bid for a P10-billion project to redevelop the Mactan International Airport in Cebu.
Ayala Corp. and Aboitiz Equity Ventures Inc. signed a memorandum of agreement on Friday to create a 50-50 joint venture that would serve as their vehicle to build a new terminal for the country’s second-largest international gateway under the public-private partnership (PPP) framework.
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