King & Wood Mallesons (KWM) is proud to have advised the International Finance Corporation (IFC) and the Department of Transportation of the Government of the Philippines (DOTr) on the review, negotiation and procurement of an unsolicited proposal submitted by Aboitiz InfraCapital for the expansion, operation and maintenance of the Laguindingan International Airport.
IFC acted as the lead transaction advisor to DOTr on this project.
Aboitiz Infra Capital was awarded a 30-year concession to expand, operate and maintain the Laguindingan International Airport, following a ‘Swiss Challenge’ procurement process, in alignment with the Public-Private Partnership (PPP) Code of the Philippines.
The Concession Agreement was ceremoniously signed at Malacañan Palace, with President Ferdinand R. Marcos Jr. in attendance. The agreement was executed between the Civil Aviation Authority of the Philippines and DOTr (acting as ‘grantor’) and a project company established by Aboitiz InfraCapital (as ‘concessionaire’).
KWM’s team was led by Australian Partner Gilles Cardonnel, with support from Hong Kong Senior Associate Gallien Lefevre and Singapore Associate Diksha Maheshwari.
Commenting on the significance of the deal, Gilles Cardonnel said:
“It was a privilege to advise IFC and DOTr on this landmark PPP initiative, which promises to transform Laguindingan International Airport into a world-class facility, unlocking further economic growth in the region.”
KWM was assisted by Philippine-based law firm, Romulo Mabanta Buenaventura Sayoc & de los Angeles, on local law aspects.
KWM is currently advising IFC and DOTr on two other airport PPPs.
