MPIC infusing P6.9b into Indonesian toll unit
MPIC infusing P6.9b
into Indonesian toll unit
The tollway unit of Metro Pacific Investments Corp. is acquiring an additional 42.25-percent stake in an Indonesian infrastructure holding company for P6.9 billion.
MPIC said in a disclosure to the stock exchange Metro Pacific Tollways Corp. signed an agreement with PT Matahari Kapital Indonesia to acquire PT Matahari’s shares in PT Nusantara Infrastructure Tbk (PT Nusantara), an infrastructure holding company with interests in tollroads, port operations, water, energy and telecommunications.
MPTC indirectly acquired about 6.6 billion shares or 42.25 percent of PT Nusantara, at an estimated amount of $132 million or P6.9 billion.
This adds to MPTC’s indirect holdings, through its wholly- owned subsidiary, MPT Asia Corp. and the latter’s Indonesian subsidiary, PT Metro Pacific Tollways Indonesia (PT MPTI), of about 42.25 percent of the total capital stock of PT Nusantara on a fully-diluted basis.
Together with PT MPTI’s earlier share acquisitions, PT MPTI will now hold a total of about 47.08 percent of the total issued capital stock of PT Nusantara on a fully-diluted basis.
“MPTC will support the existing management of PT Nusantara by sharing our brand of service and helping the Indonesian firm realize its growth potential, especially in the toll road sector,” MPTC president and chief executive Rodrigo Franco said.