Metro Pacific to Sell 20% Stake in Tollways Unit to Reduce Debt

Metro Pacific Investments Corp. (MPIC) is planning to sell a 20% stake in its toll roads unit, Metro Pacific Tollways Corp. (MPTC), as part of efforts to raise funds and pay off outstanding debts.

Why the Sale?

🔹 MPIC Chairman Manuel V. Pangilinan confirmed the plan, stating that the sale’s main purpose is to reduce MPTC’s debt.
🔹 The company is currently in talks with a foreign investor for the transaction.
🔹 The goal is to raise P30 billion to P50 billion to address MPTC’s total debt, which stands at P64.99 billion.

MPTC’s Tollway Portfolio

MPTC operates several key expressways, including:
✅ North Luzon Expressway (NLEX)
✅ Subic-Clark-Tarlac Expressway (SCTEX)
✅ Manila-Cavite Expressway (CAVITEX)
✅ Cavite-Laguna Expressway (CALAX)
✅ Cebu-Cordova Link Expressway (CCLEX)
✅ NLEX Connector

Debt-Funded Expansion

In September 2024, MPTC, through its subsidiary PT Margautama Nusantara, partnered with Warrington Investment Pte. Ltd. to acquire a 35% stake in PT Jasamarga Transjawa Tol (JTT) for $930.3 million.

JTT operates the 676-km Trans Java Toll Road in Indonesia, but the acquisition was entirely debt-funded, contributing to MPTC’s financial obligations.