SyCipLaw advises MPIC in sale of shares in MPLRC to Sumitomo Corporation

SyCipLaw acted as legal advisor to Metro Pacific Investments Corporation (MPIC) in relation to MPIC’s sale of shares representing 34.9% interest in Metro Pacific Light Rail Corporation (MPLRC) to Sumitomo Corporation -- one of Japan’s largest trading and investing companies.

MPLRC holds an effective 55% stake in the Light Rail Manila Corporation (LRMC), which has a 32-year concession to operate, maintain and extend the 20.7 km Light Rail Transit System – Line 1 (LRT-1), a vital light rail infrastructure asset in the heart of Metro Manila. LRT-1, which currently with 20 stations, has started works on the extension of the system to Cavite.

SyCipLaw previously advised the consortium constituting LRMC in relation to its bid for the concession over LRT-1 and advised LRMC in relation to the project financing for the extension to Cavite.

Arlene M. Maneja headed the SyCipLaw team, assisted by partner, Leah C. Abutan, senior associate Mark Xavier D. Oyales, and associates Anne Katherine P. Navarrete, Nathaniel Andrew Y. Uy, Russel Stanley Q. Geronimo, and Paolo Dominic G. Macariola.