KIT and MPIC held shares in PCSPC through Razor Crest, an indirect 50:50 jointly controlled company between the two companies. Razor Crest entered a sale and purchase agreement on Oct 23, 2024 to sell its entire stake in Hyperion Storage Holdings Corporation to Coral Terminal.
Keppel Infrastructure Trust (KIT) completed the sale of its entire 50% equity stake in Philippine Coastal Storage & Pipeline Corporation (PCSPC) to affiliates of I Squared Capital on March 20.
The sale was first announced on Oct 23, 2024, in which KIT and Metro Pacific Investments Corporation (MPIC) agreed to sell their combined 100% stake in PCSPC for a total enterprise value of US$460 million ($613.99 million), including US$181 million of net debt.
