Keppel, Metro Pacific Are Said to Consider Oil Storage Unit Sale

Singapore’s Keppel Infrastructure Trust and Metro Pacific Investments Corp. are weighing a sale of the largest petroleum-products import storage facility in the Philippines, according to people familiar with the matter.

The companies are working with an adviser on the planned divestment of Philippine Coastal Storage & Pipeline Corp., the people said. A transaction could value the storage company at $400 million to $500 million, said the people, asking not to be identified as the process is private.

Deliberations are ongoing and the sellers could still keep the asset for longer, the people said. A representative for Keppel Infrastructure declined ...