Privatization is a dynamic and complex process, and the firm has been an active participant in the Philippine Government’s program from its inception. We assisted in the drafting of the privatization law and advised on many of the major privatization transactions that followed, including those for Philippine Airlines (the Philippine flag carrier), Petron (the national oil company), and Philippine Shipyard Corporation (the largest Philippine shipyard).
Our involvement has covered all aspects of the privatization process, from due diligence to the bidding phase, from negotiations with government agencies to financing, from the structuring of capital to the organization of newly privatized enterprises. Our role has extended to helping defend against procedural and substantive law issues that may be raised in the course of privatization, as the firm successfully did for Petron and Philippine Shipyard in separate landmark cases before the Supreme Court.
We continue to participate in the privatization of the energy sector, where our experience as counsel to developers and lenders in build-operate-and-transfer power projects has been valuable, and represent investors interested in the transmission and generation assets of National Power Corporation and Power Sector Assets and Liabilities Management Corporation.