Metro Pacific Tollways Corp. acquired an additional 24.98-percent shares in an Indonesian infrastructure company for P3.44 billion.
The tollway unit of Metro Pacific Investments Corp. raised its interest in PT Margautama Nusantara through the acquisition of a 100-percent equity interest in CIIF Infrastructure Holdings Sdn Bhd and CAIF III Infrastructure Holdings Sdn Bhd.
MPTC, through its Singaporean subsidiary, Metro Pacific Tollways Asia Corp. Pte. Ltd. acquired 100 percent equity interest in each of CIIF and CAIF III, respectively.
Each of CIIF and CAIF III holds 20 percent and 4.98 percent equity interest in MUN, respectively.
MUN is a private company in Indonesia engaged in the development and operation of toll roads. MUN currently manages four strategic toll roads.
The indirect acquisition of equity interest in MUN through CIIF and CAIF III will be in addition to the existing indirect equity interest of MPTC in MUN through PT Metro Pacific Tollways Indonesia which holds an equity interest of 75.89 percent of PT Nusantara Infrastructure Tbk, which then holds 74.98 percent equity interest in MUN.
The resulting total equity interest of MPTC in MUN after the transaction will be 100 percent.
MUN is the holding company of four operating toll roads in Indonesia with a total of 34.5 km toll road portfolio in Jakarta and Makassar, the capital city of Sulawesi includes.
It operates a 7.25-km toll road which connects Serpong and Pondok Aren in Jakarta; a 9.7-km road connecting Kebon Jeruk (West Jakarta) with Penjaringan and Soekarno-Hatta International Airport area in Cengkareng; a 5.95-km toll road connecting Soekarno-Hatta port in Makassar and AP Pettarani road; and a 11.57-km toll road which connects BMN to Sultan Hasanuddin International Airport.
NUM is majority owned by Jakarta-listed PT Nusantara Infrastructure.
PT Nusantara provides services to more than 103 million customers, 550,000 households, 103 million vehicles and more than 210 vessels.
