MPTC-San Miguel tollway merger likely in third quarter — Pangilinan

Metro Pacific Tollways Corp. (MPTC) expects its merger with San Miguel Corp. to be completed by the third quarter, with negotiations moving into the valuation stage and San Miguel likely to emerge with a majority stake in the combined tollway business, MPTC chair Manuel V. Pangilinan said in a report by BusinessWorld.

"We are at the valuation stage, but we know we will really land 45:55," Pangilinan said, indicating a 45% stake for MPTC and 55% for San Miguel. The merger would combine the toll road assets of both conglomerates, including MPTC's NLEX, SCTEX, and CALAX, and San Miguel's Skyway and TPLEX.

The deal, once completed, will create a dominant toll road operator in the Philippines, consolidating key expressways in Luzon. Pangilinan said the third-quarter timeline is "doable" as both parties aim to finalize the transaction.