METRO Pacific Investments Corp. (MPIC), said on Wednesday, its Metro Pacific Tolways Corp. (MPTC) tollway subsidiary sold $149.25 million to 100% of Thailand’s stakes at AIF Toll Roads Holdings Co., Ltd.
FPM Tollway (Thailand) Ltd., a wholly indirect company of the MPTC, concluded an equity acquisition agreement with “a range of parties” on Feb. 16 to sell 100% of its stake in AIF Toll Roads Holdings (Thailand) Co., Ltd.
AIF Toll Roads holds nearly 29.45 percent of Don Muang Tollway Public Co’s outstanding shares. Ltd., the Bangkok key highway operator, added. It.
It was to “use the increased involvement of third parties to buy all MPTC shareholdings,” according to the Philippine infrastructure group, in Don Muang Tollway, which has concession for a 21.9-kilometer high toll road facilities in Thailand’s capital.
“MPTC would make a return from its investment in DMT and will take advantage of the improved liquidity,” said the firm, adding that the income will be used to finance the MPTC ventures.
Nine Thai people sold securities like Sombath Phanichewa, Don Muang Tollway’s existing shareholder and CEO, and one investment firm.
According to the MPIC, the trade will boost the MPTC balance sheet.
Astro C in a telephone conversation. “The number one, maybe it is really a chance for you to leverage your funds to support more ventures here, in the Philippines or abroad,” said Del Castillo, the Managing Director at First Grade Finance, Inc.
“They also, secondly, agreed to use the competitive price provided by third parties because of Thailand’s political situation,” he states.
He stated that liquidity would make the MPTC “better in contrast with the Thai chance” versatile in some respects.
Nationalist pride, he said, was possibly significant because of the political environment in the presence of third parties in MPTC shares.