Business

MPIC completes sale of Indonesian tollroad firm

Metro Pacific Investment Corp.’s tollways unit has completed the divestment of its 10.32% stake in Indonesian infrastructure firm PT Margautama Nusantra (MUN) to a consortium of Japanese firms for $35.2 million.

Metro Pacific Tollways Corp. sold its interest in MUN to West Nippon Expressway, Japan Expressway International Co. Ltd. and Japan Overseas Infrastructure Investment Corp. for Transport & Urban Development.

MUN operates four strategic toll roads in Jakarta and Makassar in Sulawesi Island.

MPTC has a presence in Vietnam and Thailand through its 29.45% stake in Don Muang Tollway Public Co. and 45% in CII Bridges and Roads Investment Joint Stock Co., respectively.

On the domestic front, MPTC owns the NLEX, SCTEX, CAVITEX as well as the Cavite-Laguna-Expressway, C5-South Link, connector road and the Cebu-Cordova Link Expressway in Cebu.

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