MPLRC holds a 55 per cent stake in Light Rail Manila Corporation (LRMC). LRMC has a 32-year concession to operate, maintain and extend the 20.7 km LRT1, a vital light rail infrastructure asset that connects the Northern and the Southern parts of Metro Manila.
Macquarie Capital ran a highly competitive auction process which attracted several global rail strategic investors. Macquarie Capital positioned the opportunity as a rare significant minority stake in a proven operating crucial transportation asset, with expansion, in a fast-growing economy.
Macquarie Capital provided strategic direction especially during crucial times marked by a volcano eruption in the Philippines in early 2020 that affected rail operations, and the impact of COVID-19. The transaction demonstrated seamless collaboration between the Manila and Tokyo offices of Macquarie Capital in advisory execution, and showcased our deep knowledge of the rail infrastructure business.
"Advising MPIC was a rewarding experience for Macquarie Capital especially considering the challenging conditions posed by the COVID19 pandemic. The successful outcome is testament to Macquarie Capital’s leading expertise in infrastructure coupled with seamless global collaboration.
Macquarie Capital has a strong relationship with Sumitomo Corporation. We are delighted to see them joining MPIC, our longstanding partner, in accelerating Philippines’ development of public transportation infrastructure."
Justin Ocampo – Head of Macquarie Capital, Philippines