San Miguel Beer had parted ways with veteran guard Alex Cabagnot.
The Beermen sent the 38-year-old, 16-year veteran to Terrafirma for Fil-Am guard Simon Enciso in a one-on-one trade that was approved by the PBA Commissioner's Office.
During his time with San Miguel, Cabagnot won eight championships and one Finals MVP.
Cabagnot played just four games for the Beermen in the just concluded Philippine Cup. He averaged 12.25 points, 3.75 rebounds and 2.75 assists.
Enciso had just been traded by Blackwater to Terrafirma last Sept 28 for Rashawn McCarthy.
