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).
“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. This will be done via a private placement,” Pangilinan told reporters at the sidelines of a Management Association of the Philippines meeting on Wednesday.
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