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By Kenneth Christiane L. Basilio, <\/strong>Reporter<\/i><\/span><\/p>\n Cerberus Capital Management LP has presented an unsolicited offer to manage the Subic Bay International Airport, as stated by a Subic Bay Metropolitan Authority (SBMA) official on Monday.<\/span>\u00a0<\/span><\/p>\n The American investment company suggested to \u201cassume control\u201d of the Subic airport as a component of its strategy to rejuvenate the facility, which previously was part of a larger US naval base prior to its closure in the 1990s, SBMA Deputy Administrator Vicente A. Evidente, Jr. mentioned during a House of Representatives hearing.<\/span>\u00a0<\/span><\/p>\n \u201cCerberus has\u2026 proposed an unsolicited plan to take over the Subic Bay International Airport,\u201d he informed lawmakers.<\/span>\u00a0<\/span><\/p>\n The US firm’s growth initiatives at Subic Bay arise amidst renewed American interest in enlarging its presence in the Philippines due to China’s escalating assertiveness in the South China Sea.<\/span>\u00a0<\/span><\/p>\n Cerberus already manages a portion of a 310-hectare site of a former South Korean-owned shipyard situated west of the airport for which it had presented an unsolicited proposal.<\/span>\u00a0<\/span><\/p>\n