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.
Justin Ocampo – Head of Macquarie Capital, Philippines