Mitsui & Co., Ltd. (Mitsui) has announced to acquire Metro Pacific Investments Corporation(MPIC).

Mit-Pacific Infrastructure Holdings Corporation has revised its bid to acquire a 36.6% stake in Metro Pacific Investments Corp (MPIC), a Philippine infrastructure firm, for a total of up to PHP54.8 billion (US$990.69 million). The Hong Kong-listed investment holding company has increased its offer from 4.63 pesos to 5.20 pesos per share.

The transaction involves the purchase of shares from minority public shareholders by a consortium comprising Mit-Pacific Infrastructure Holdings Corporation, a joint venture between Mitsui & Co, and JOIN, an infrastructure investment fund sponsored by the Japanese government and the private sector.