Gokongwei, Gotianun-led venture seals shareholders’ agreement for Clark Airport

The Gokongwei and Gotianun-led venture that operates Clark International Airport in Pampanga province sealed a shareholders’ agreement ahead of the inauguration of a new passenger terminal in the coming weeks.

In a filing to the Philippine Stock Exchange on Tuesday, the companies outlined their ownership under special purpose company Luzon International Premiere Airport Development Corp. (Lipad).

Under the agreement, Gotianun-led Filinvest Development Corp. will take a 42.5-­percent stake while the Gokongwei family’s JG Summit Holdings will get 33 percent of Lipad.

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Changi Airports Philippines Pte. Ltd. will get 15 percent while businessman Jefferson Cheng’s Philippine Airport Ground Support Solutions Inc. will get a 9.5-percent stake.

The consortium won the 25-year contract to maintain and operate the Clark Airport in 2018 and assumed operations of the facility in August the following year.

The Clark International Airport expansion is among the “Build, Build, Build” projects started and completed within the Duterte administration.

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This involved the construction of a new passenger terminal with a capacity of 8.2 million passengers annually—double Clark Airport’s existing limit.

Megawide Construction Corp. and GMR Infrastructure, operator of the Mactan Cebu International Airport, earlier announced the structure was completed ahead of schedule last year. 

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Article and Photo originally posted by Inquirer last June 9, 2021 5:16am and written by Miguel R. Camus.

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