ABS-CBN
San Miguel confirms tollways merger with MPTC shelved
Metro Pacific Investments Corp. (MPIC) has temporarily suspended merger talks with San Miguel Corp. (SMC) to focus on raising P30 billion to P50 billion to reduce its debts.
MPIC chairperson and president Manuel V. Pangilinan stated that the tollway merger is still expected to be completed within the year.
MPTC's tollway arm, Metro Pacific Tollways Corp. (MPTC), manages expressways including the Cavite-Laguna Expressway, North Luzon Expressway, and the Subic-Clark-Tarlac Expressway.
San Miguel Corp. (SMC) confirmed the deferral of the merger discussions, noting it was advised by MPTC.
SMC Tollways operates the SLEX, Skyway, NAIAX, STAR Tollways and TPLEX, while MPTC operates the NLEX, SCTEX, CAVITEX, and CALAX.
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