Tollways giant Metro Pacific Tollways Corp. raised its ownership in the North Luzon Expressway after purchasing the government’s remaining minority stake in the 100-kilometer toll road.
MPTC, part of tycoon Manuel V. Pangilinan’s Metro Pacific Investments Corp., announced the purchase of a 2.61 percent stake in NLEx Corp., raising its holdings to over 73 percent.
NLEx’s other stockholders were Sy family-led BDO Unibank, Egis Investment Partners, and Global Fund Holdings.
Public commitment
"We recognize that we, too, are in public service under a private entity. Our commitment is to provide efficient, safe, and convenient travel to our motoring public, as well as connect people and transform communities," MPTC president and CEO Rogelio Singson said.
The deal was finalized on Aug. 2 in a ceremonial signing with officials from the tollroad giant, led by Singson and MPTC chief finance officer Christopher Lizo, along with Finance Secretary Ralph Recto and Privatization Management Office Chief Atty. Maan Doctor.
