MPTC postpones SMC merger, delays cashless tolls

On Monday, March 3, San Miguel Corporation (SMC) confirmed that Metro Pacific Tollways Corporation (MPTC) has postponed their merger talks.

Manuel Pangilinan, MPTC's chairman, stated that the deal is on hold as MPTC focuses on raising P50 billion to settle its debts.

In January, MPTC announced plans to raise funds through a private placement, aiming to finalize the transaction by 2026 with a proposed 50-50 split with SMC.

Both companies previously signed a P72-billion deal in 2023 for building and operating two expressways: Cavite-Batangas Expressway (CBEX) and Nasugbu-Bauan Expressway (NBEX).

Transport Secretary Vince Dizon has delayed the implementation of a fully cashless toll system pending a review, addressing complaints from motorists about issues with RFID transactions.

MPTC and SMC both support the review process but emphasize the need for a uniform cashless system to ensure seamless integration between different toll operators.

SMC Infrastructure remains committed to working closely with the Department of Transportation to refine the toll collection systems for the benefit of all road users.