Mediaquest Chairman Manuel V. Pangilinan at the MediaQuest Holdings and ABS-CBN signing ceremony on August 10, 2022. Jonathan Cellona, ABS-CBN News

Manuel V. Pangilinan

Benise Balaoing

ABS-CBN News

<p>MANILA -- The merger of the Philippines&#x27; biggest tollway operators may take a little longer than expected, Metro Pacific Tollways Corporation (MPTC) Chairman and CEO Manuel V. Pangilinan said Wednesday.</p><p>In October last year, MPTC said details of the deal were already being finalized and that an announcement could be made within the month.  </p><p>However, when Pangilinan was asked, on the sidelines of the 77th Management Association of the Philippines Inaugural Meeting 2025, about the timeline for the merger of the two companies, he said the company had no timeline yet for the deal.</p><p>&quot;I don&#x27;t know, hopefully within the year or hopefully next year. So no definitive schedule for that yet,&quot; the businessman said.</p><p>He also said the matter is &quot;complicated&quot; and that MPTC is raising between P30 to P50 billion for the deal.</p><p>San Miguel Corp and MPTC in July 2023 announced that they will collaborate on a new expressway that will link the provinces of Cavite and Batangas.</p><div><a href="https://www.abs-cbn.com/business/07/17/23/san-miguel-mpic-confirm-collaboration-in-new-toll-road" rel="noopener noreferrer" target="_blank">San Miguel, MPIC confirm collaboration in new toll road</a></div><p>Pangilinan said the two firms are still not in the serious stage of due diligence.</p><p>&quot;At least we have preliminary exchange of information, pero wala pang I don’t think we’ve opened our data room so we&#x27;re not into this serious stage of due diligence yet,&quot; he said.</p><p>The executive, however, noted that they are not in a hurry to finish the deal, as the conglomerate still has other projects to work on, like Meralco&#x27;s <a href="https://www.abs-cbn.com/news/business/2025/1/15/tourism-dept-partners-with-klook-philippines-to-boost-digitalization-2049" rel="noopener noreferrer" target="_blank">Terra Solar</a> project, and liquefied natural gas facility with the Aboitiz Power Corporation, and San Miguel Global Power Holdings Corp. </p><div><a href="https://www.abs-cbn.com/business/2024/3/4/aboitiz-ang-pangilinan-sign-3-3-b-power-deal-932" rel="noopener noreferrer" target="_blank">Aboitiz, Ang, Pangilinan sign $3.3-B power deal</a></div><div><a href="https://www.abs-cbn.com/news/business/2024/12/23/competition-commission-approves-aboitiz-ang-pangilinan-power-deal-1546" rel="noopener noreferrer" target="_blank">Competition Commission approves Aboitiz-Ang-Pangilinan power deal</a></div><p>About his deal with the Aboitiz and Ang-led firms, Pangilinan said they are now working on the closing conditions for the investment.</p><p>&quot;I think it should be possible because I think it&#x27;s massive documentation, and there’ll be some movement of substantial amounts of funds.&quot;</p><p>&quot;So I think in the coming weeks, few weeks…3-4-5 weeks siguro,&quot; he said when asked about the timeline for the deal. </p><p>Pangilinan also said his company has already sent a management team to Camp John Hay in Baguio City, after the Bases Conversion and Development Authority (BCDA) signed a 25-year lease deal with the MVP group over one of the properties in the tourist destination.</p><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/7GkPnshXmf4?&amp;ab_channel=ANC24%2F7autoplay=1&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span></div><p>The businessman said his team will work on an inventory of the property before it presents a plan to the BCDA.</p>

<p>The merger of the Philippines biggest tollway operators may take a little longer than expected.</p>

The merger of the Philippines biggest tollway operators may take a little longer than expected.

No hurry for 'complicated' tollways mega merger: Manny Pangilinan | ABS-CBN

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No hurry for 'complicated' tollways mega merger: Manny Pangilinan

No hurry for 'complicated' tollways mega merger: Manny Pangilinan

Benise Balaoing,

ABS-CBN News

Published Jan 16, 2025 12:32 PM PHT

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