Philippines' Megawide, Indian partner selling airport project for $440m

Philippines' Megawide Construction Corp and its Indian partner are selling their shares in an airport developer and operator, in a deal worth 25b pesos ($439.8m), Megawide said in a disclosure on Friday. Megawide and partner GMR Airports International will sell their interests in Mactan Cebu International Airport in central Philippines to the infrastructure arm of conglomerate Aboitiz Equity Ventures, by issuing shares and exchangeable notes.<br/>