An invitation to bid on the privatization of IBC-13 is expected to be issued by the government. IBC-13 president Lito O. Cruz revealed in an interview that the invitation to bid is scheduled for release in April. The Development Bank of the Philippines, IBC-13’s financial advisor, is presently finalizing bid parameters.
The timeline for the release was confirmed by DBP VP Francis Nicholas M. Chua, adding that the bid parameters need to be finished in order to meet the target release date of April. There are two parties that expressed interest in joining the bidding. Back in January, San Miguel President Ramon S. Ang stated that he wishes to join the bidding.
