METRO Pacific Tollways Corp. (MPTC), a wholly owned subsidiary of Manuel V. Pangilinan-led Metro Pacific Investments Corp. (MPIC), is looking to raise up to P50 billion via a private placement of shares to clear its debts prior to executing a planned merger with the tollway unit of San Miguel Corp. (SMC).
METRO Pacific Tollways Corp. , a wholly owned subsidiary of Manuel V. Pangilinan-led Metro Pacific Investments Corp. , is looking to raise up to P50 billion via a private placement of shares to clear its debts prior to executing a planned merger with the tollway unit of San Miguel Corp. .'For MPTC, right now we are focusing on raising P30 billion to P50 billion in order to reduce debts before the discussions on the merger.
Pangilinan also said that his group was currently intent on closing a liquefied natural gas deal between Manila Electric Co. , Aboitiz Power Corp. , and San Miguel following clearance from the Philippine Competition Commission .The PCC in December said that it had approved the acquisition by Meralco PowerGen Corp., AboitizPower's Therma Natgas Power Inc. and San Miguel Global Power Holdings Corp. of certain power facilities and an LNG terminal, but with safeguards.
Pacific Tollways Looking To Raise P30-50B
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