The move follows a buyout backed by Tanco and Maharlika Investment Corp., the government’s sovereign wealth fund created to invest in strategic national assets.
A total of 177.6 million shares were tendered at P36 each, valuing the deal at about P6.4 billion and lifting non-public ownership to 99.29 percent.
This also triggered a trading suspension on March 13, effectively paving the way for the company’s market exit.
ATI, which is partly owned by Dubai-based logistics giant DP World, operates the Manila South Harbor, Port of Batangas, Tanza Container Terminal and Makar Wharf in General Santos.
—Edited by Miguel R. Camus
