<\/p>\n
METRO PACIFIC Tollways Corp. (MPTC) expects its merger with San Miguel Corp. to be accomplished by the third quarter, with negotiations moving into the valuation stage and San Miguel prone to emerge with a majority stake within the combined tollway business.<\/p>\n
\u201cWe’re on the valuation stage, but we all know we’ll really land 45:55 of their favor,\u201d MPTC Chairman Manuel V. Pangilinan told reporters on the sidelines of PLDT, Inc.\u2019s annual stockholders meeting on Tuesday. \u201cI’m sure San Miguel will flex to reach at that.\u201d<\/span><\/p>\n The proposed transaction will mix the country\u2019s two biggest toll road operators, making a dominant player within the domestic tollway sector.<\/p>\n Mr. Pangilinan said discussions are progressing and that the most recent structure covers only Philippine assets.<\/p>\n \u201c[We are just waiting] for the valuation. This doesn’t include our Indonesian assets. It will only include our domestic [assets],\u201d he added.<\/p>\n The exclusion of overseas operations means MPTC\u2019s investments in Indonesia and Vietnam will remain outside the merger.<\/p>\n MPTC, the tollway unit of Metro Pacific Investments Corp. (MPIC), resumed merger discussions with San Miguel last 12 months after earlier postponing talks while specializing in debt reduction.<\/p>\n In November 2025, MPIC said it was reviewing several options for MPTC, including the sale of as much as a 30% stake within the tollway company, as a part of efforts to lower debt and prepare for each the merger and a possible initial public offering.<\/p>\n MPIC has said it’s considering two private placement transactions to assist cut MPTC\u2019s debt burden, which stood at about P200 billion as of 2025.<\/p>\n MPTC\u2019s international operations include tollway investments in Indonesia and Vietnam. Its Vietnam business is held through affiliate CII Bridges and Roads Investment JSC.<\/p>\n In Indonesia, MPTC and its units, along with Singapore sovereign wealth fund GIC Pte. Ltd., accomplished a $1-billion investment in 2024 to accumulate a 35% stake in PT Jasamarga Transjawa Tol, certainly one of the country\u2019s biggest toll road operators.<\/p>\n PT Jasamarga Transjawa Tol operates a 676-kilometer section of the Trans-Java Toll Road, which serves about 700,000 to 800,000 vehicles every day.<\/p>\n San Miguel stocks rose 20 centavos to shut at P67.50 each.<\/p>\n MPTC is the tollway arm of Metro Pacific Investments Corp., certainly one of the Philippine units of Hong Kong-based First Pacific Co. Ltd., alongside Philex Mining Corp. and PLDT.<\/p>\n Hastings Holdings, Inc., a unit of PLDT Useful Trust Fund subsidiary MediaQuest Holdings, Inc., holds a majority stake in BusinessWorld<\/i> through the Philippine Star Group, which it controls. \u2014 A.E.O. Jose<\/b><\/span><\/p>\n<\/p><\/div>\n <\/p>\n","protected":false},"excerpt":{"rendered":" CAVITEX.PH METRO PACIFIC Tollways Corp. (MPTC) expects its merger with San Miguel Corp. to be accomplished by the third quarter, with negotiations moving into the valuation stage and San Miguel prone to emerge with a majority stake within the combined tollway business. \u201cWe’re on the valuation stage, but we all know we’ll really land 45:55 […]<\/p>\n","protected":false},"author":1,"featured_media":349634,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[3887,2490,52749,24803,2267,18589],"class_list":["post-349633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-merger","tag-miguel","tag-mptcsan","tag-pangilinan","tag-quarter","tag-tollway"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/349633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/comments?post=349633"}],"version-history":[{"count":2,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/349633\/revisions"}],"predecessor-version":[{"id":349636,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/349633\/revisions\/349636"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/media\/349634"}],"wp:attachment":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/media?parent=349633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/categories?post=349633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/tags?post=349633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}