San Miguel confirms tollways merger with MPTC shelved | ABS-CBN

ADVERTISEMENT

dpo-dps-seal
Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!

San Miguel confirms tollways merger with MPTC shelved

San Miguel confirms tollways merger with MPTC shelved

Arthur Fuentes,

ABS-CBN News

Clipboard

MANILA -- The merger of the Philippines' biggest tollway operators has been deferred, San Miguel Corp confirmed in a disclosure to the stock exchange.

San Miguel said, "discussions on the proposed merger of the toll roads of Metro Pacific Tollways Corp and San Miguel Corp have been deferred, as advised by MPTC, through its Chairman, Mr. Manuel V. Pangilinan."

San Miguel was reacting to a report on BusinessWorld on Monday that MPTC shelved talks on the merger as it was focusing on raising funds to pay down debt.

Earlier this year, Pangilinan was also quoted as saying that the planned merger was "complicated" as MPTC needed to raise between P30 billion to P50 billion for the deal.

ADVERTISEMENT

In 2023, the two infrastructure giants said they were collaborating on further integrating their tollways.

SMC Tollways operates the SLEX, Skyway, NAIAX, STAR Tollways and TPLEX. MPTC, meanwhile, operates the NLEX, SCTEX, CAVITEX, CALAX and other tollways.

ADVERTISEMENT

ADVERTISEMENT

It looks like you’re using an ad blocker

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.