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AB Capital's unmatched experience in providing equity and debt financing options and investment alternatives to both corporate clients and investors, has given the Company significant expertise in the domestic capital market, particularly in the following fields:
   
 

FINANCIAL ADVISORY / PRIVATIZATION



                     Excellent Track Record in Financial Advisory Privatization

AB Capital has developed considerable expertise in the fields of financial advisory and privatizations through its engagements in the following transactions:
 

Union Cement Corporation (July, 1998)
AB Capital acted as financial advisory to US$210 million investment of Holderfin B.V. in Union Cement Corporation.  On July 17, 1998, Bacnotan Consolidated Industries, Inc. and Atlas Cement Corp., the major shareholders of Bacnotan Cement Corporation (BCC), Davao Union Cement Corporation (DUCC) and HI Cement Corporation (HCC), entered into a strategic partnership with Holderfin B.V. (Holderfin), a wholly-owned subsidiary of Holderbank Financiere Glaris, Ltd., the biggest cement group in the world, through Union Cement Corporation, a newly formed holding company of BCC, DUCC, and HCC.

Bacnotan Consolidated Industries, Inc., 1998
AB Capital acted as domestic financial advisory to Bacnotan Consolidated Industries, Inc. in its joint venture with Holderbank Financiere Glaris, Ltd. in Union Cement Corporation, the holding company for the Philippines's largest cement manufacturing group.  


Shakey's 1998
AB Capital acted as financial advisor to International Family Food Services, Inc. (IFFSI), the holder of the exclusive territorial license of Shakey's in the Philippines.  The engagement involved the valuation and reorganization of the Shakey's business and the consolidation of several Shakey's-related companies into IFFSI.
 


Privatization of Manila Hotel Corporation, 1997
AB Capital led the consortium which acted as the financial advisor to the Government Service Insurance System (GSIS) in the privatization of Manila Hotel Corporation (MHC).  A total of 15,300,000 shares were bid out, equivalent to a 51% ownership stake in MHC.
 


Petron Corporation Privatization, 1994
AB Capital was part of the Investment House Association of the Phils. (IHAP) IPO Steering Committee and head of the Pricing Committee for the secondary offering of 40% of Petron's outstanding capital stock.

 


ICTSI's Acquisition of EEI Shares, 1993
AB Capital acted as financial advisor to International Container Terminal Services, Inc. for its acquisition of Benguet Corporation's 34% shareholdings in EEI Corporation (EEI) worth P734 million.
 


Cebu Holdings, Inc.'s IPO, 1993
AB Capital advised the Philippine Long-Term Equity Fund (PLTEF) in the latter's strategic investment in Cebu Holdings, Inc. (CHI).  AB Capital lead-managed the eventual IPO of CHI.
 


Philippine Airlines Privatization, 1992
AB Capital was the principal investment banker for PR Holdings which submitted the P9.65 billion winning bid for a 67% ownership stake in Philippine Airlines ("PAL").  Also, AB Capital was instrumental in identifying and negotiating with the foreign strategic partner (Korean Airlines) who eventually became part of the consortium.  The engagement involved the design and application of valuation methodologies used for the acquisition.
 


Cebu Property Ventures & Dev't Corp. Privatization, 1991
This privatization deal involved the sale by the Province of Cebu of its 25% (out of 75%) ownership interest in Cebu Property Ventures and Development Corp. (CPVD).  AB Capital acted as Joint Lead Underwriter for the secondary offering of CPVD.
 


Manila International Container Terminal Privatization, 1987
AB Capital acted as the financial advisor to International Container Terminal Services, Inc. (ICTSI) which submitted the winning bid for the 25-year contract to manage, operate and develop Manila International Container Terminal.  AB Capital lead-managed the eventual IPO of ICTSI.
 

 

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