Commission Decision No. 35-M-027/2019:
In the Matter of the Proposed Joint Venture Between Filinvest Alabang, Inc. and Mitsubishi Corporation
The proposed transaction involves the formation of a joint venture between Mitsubishi Corporation (“Mitsubishi”) and Filinvest Alabang, Inc. (“Filinvest Alabang”), through the acquisition by Mitsubishi of 40% of the issued and outstanding shares of stock of a wholly-owned subsidiary of Filinvest Alabang, which was incorporated specifically for developing, constructing, owning and leasing out mixed-use developments including an office and/or retail building with office, retail, and other components agreed between the parties, on the 16,928- square-meters parcels of land located in Filinvest City, Alabang, Muntinlupa City.
Filinvest Alabang is a subsidiary of Filinvest Development Corporation (“Filinvest Development Corp.”), focusing on mixed-use urban developments in Metro Manila. Filinvest Alabang was incorporated on August 25, 1993 for the development of the 244-hectare Filinvest City, a joint venture project with the Philippine government. Filinvest Alabang is 80% owned by Filinvest Development Corp. and 20% owned by Filinvest Land Inc.
The Mitsubishi Corporation Group is a global integrated business enterprise that develops and operates businesses across various industries, including automotive and mobility, natural gas, industrial materials, petroleum and chemicals, mineral resources, industrial infrastructure, food industry, consumer industry, power solution and urban development. Mitsubishi’s current activities have expanded to include project development, production and manufacturing operations, with different international partners.