METRO Pacific Investments Corp. (MPIC) is looking to sell up to 20 percent of its stake in Metro Pacific Tollways Corp. (MPTC) to help reduce the company's debt, MPIC Chairman, President and CEO Manuel V. Pangilinan said.
METRO Pacific Investments Corp. is looking to sell up to 20 percent of its stake in Metro Pacific Tollway s Corp. to help reduce the company's debt,
is in discussions with an investor and the planned stake sale is to be done via a private placement tentatively within the next two months, Pangilinan said on Wednesday. 'Yes, we plan on selling up to 20 percent. We also have a total figure in mind on how much we want to get, but that is hard to discuss. The amount could be in billions . Moreover, for the proceeds, its main use will be the reduction of debts MPTC has,' Pangilinan said.
said that it had entered into an agreement with Mit-Pacific for a share buyback and exchangeable bond issuance that would allow the latter to acquire a stake in MPTC.
Looking To Sell 20% Of Tollway Unit
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