MPTC, SMC near tollways merger finalization

Discussions for a mega-tollways merger between Metro Pacific Tollways Corp. (MPTC) and San Miguel Corp. (SMC) Tollways are expected to be finalized this month.

At the sidelines of the Management Association of the Philippines General Membership Meeting in Taguig City on Wednesday, MPTC President Rogelio 'Babes' Singson disclosed that structural announcements may come soon.

Singson confirmed that the merger will likely happen sooner than expected after MPTC finalized its investment deal to acquire a 35% stake in PT Jasamarga Transjawa Tol (JTT) in Indonesia earlier this month.

The merged company, which is still being planned to be listed on the Philippine Stock Exchange, will operate at the holding company level without affecting operating companies such as NLEX, SCTEX, CAVITEX, CALAX, CCLEX, and others under MPTC or SMC Tollways.

Singson noted that the proposed merger must still undergo review by the Philippine Competition Commission (PCC) before it can proceed.