The Daily Tribune
MPIC, SMC heads back to negotiation table
Metro Pacific Tollways Corp. (MPTC) is prepared to restart merger discussions with San Miguel Corp. (SMC) after a temporary pause due to their fundraising initiatives.
MPTC Chairman Manuel V. Pangilinan expressed readiness to resume talks, noting that with first-quarter results reported, they can expedite the process.
Pangilinan acknowledged SMC's strong performance and indicated a desire to resolve the merger details efficiently.
The planned tollway merger, which had no definite completion date, is still intended to be finalized within the current year.
MPTC aims for an equal 50-50 ownership split in the proposed joint venture with SMC.
MPTC, the tollway subsidiary of Metro Pacific Investments Corp. (MPIC), had a significant debt of around P145 billion to P150 billion in 2023.
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