Its growth accelerated through organic development and acquisitions, most notably the 2022 takeover of Mactan-Cebu International Airport for P25 billion. The deal marked AIC’s entry into aviation, placing it at the helm of the country’s second-busiest airport, projected to handle over 10 million passengers annually by 2025.
Beyond capital, the GIP partnership gives AEV access to global best practices, proprietary networks, and operational expertise. BlackRock, the world’s largest asset manager with more than $13 trillion in assets under management, brings credibility that amplifies investor confidence.
In an economy where infrastructure spending is expected to reach at least P2 trillion by 2028, the alliance strengthens AIC’s competitive edge in airport concessions, digital infrastructure, and other major projects.
Discussions with GIP intensified in recent years, becoming public in July 2025. The talks were reportedly catalyzed during high-level meetings in the United States involving President Ferdinand Marcos Jr., Sabin Aboitiz, and GIP chairman and CEO Adebayo Ogunlesi.
Definitive agreements were signed in December 2025 and announced on 26 December, subject to regulatory approvals. Industry analysts expect completion in the first half of 2026.
Crucially, control remains with Aboitiz. AEV retains a 60 percent stake in AIC, minimizing dilution while unlocking asset value and diversifying funding sources. For GIP, the appeal lies in gaining a foothold in one of Southeast Asia’s fastest-growing economies through a trusted local partner.
This landmark deal coincides with the Aboitiz Group’s “Great Transformation,” launched by Sabin in 2022. The initiative seeks to embed technology across operations and position the conglomerate as the country’s first “techglomerate” — a legacy enterprise powered by data science and AI.
Sabin assumed leadership in January 2020, just as the pandemic disrupted global markets. Instead of pursuing aggressive expansion, he focused on survival: employee safety, family support, and business continuity. He later described this period as setting the group “two years behind,” but it reinforced the need for agility.
As conditions stabilized, Sabin recommitted to transformation. The group reorganized into more autonomous units, encouraging a startup mindset while leveraging shared resources. Decision-making was decentralized to counter bureaucratic inertia — a necessary move, which Sabin likened to turning a “large vessel” in turbulent waters.
A key pillar of the strategy is Aboitiz Data Innovation (ADI), established in Singapore in 2020. ADI serves as the techglomerate’s nerve center, developing AI models that optimize operations across sectors. By 2025, most employees were expected to use data-driven tools daily, shifting decisions from intuition to predictive analytics.
Technology-driven expansion followed. In 2022, AEV acquired Citibank’s consumer banking assets, accelerating UnionBank’s digital leadership. In 2023, the group partnered with Coca-Cola Europacific Partners to acquire Coca-Cola Beverages Philippines for $1.8 billion, diversifying into consumer goods while integrating AI into supply chain management.
Sustainability is another core focus. Sabin committed to a 50-50 mix of thermal and renewable energy by 2030. The launch of the country’s first integrated liquefied natural gas facility in 2023 added 2,500 megawatts of capacity, bridging the transition to renewables while incorporating AI for emissions monitoring.
Under Sabin’s leadership, AboitizPower deployed AI-driven predictive maintenance across hydropower and solar facilities, improving reliability and efficiency. In banking, UnionBank now uses AI for fraud detection, personalized lending, and even virtual branch services, while subsidiaries CitySavings and UnionDigital promote financial inclusion.
Across food, infrastructure, land development, and cement, technology has become central rather than auxiliary. The result is a diversified but integrated enterprise where data and AI connect operations, enhance resilience, and unlock scale.
Sabin Aboitiz’s tenure has transformed a century-old conglomerate into a tech-infused powerhouse. Through strategic partnerships, cultural change, and disciplined innovation, the Aboitiz Group has positioned itself not just to endure disruption, but to shape the country’s economic future.
