The Philippine Competition Commission (PCC) has given the green light to BlackRock-owned Global Infrastructure Partners’ (GIP) P13.71-billion investment in Aboitiz InfraCapital (AIC), clearing a key hurdle for the global infrastructure giant’s entry into the Aboitiz Group’s infrastructure business.

In a disclosure to the stock exchange on Thursday, Aboitiz Equity Ventures Inc. (AEV) said it received PCC clearance for the transaction involving AEV, AIC, and GIP EM ONYX PTE. LTD., under which GIP will acquire a 40 percent stake in AIC.

The deal, first announced in December 2025, calls for GIP to purchase 1.15 billion common shares and 1.41 billion redeemable preferred shares in AIC for a total consideration of P13.71 billion.

"The PCC's clearance is one of the closing conditions for the transaction," AEV said, adding that the parties are now "in the process of completing the other closing conditions for the transaction."

AEV said GIP’s entry adds a strategic partner with extensive experience investing in transport, energy, water, and digital infrastructure assets, bolstering AIC’s capacity to scale operations and pursue long-term growth opportunities.

The conglomerate said the investment will also give AIC access to global best practices, institutional expertise, and additional resources to support the continued expansion of its infrastructure portfolio.

AEV added that the transaction is consistent with its disciplined portfolio management strategy and broader push to transform into a "techglomerate," while strengthening long-term value creation for stakeholders.