METRO Pacific Tollways Development Corp. (MPTDC), a unit of Metro Pacific Investment Corp. (MPIC), will increase its share capital in operations and maintenance arm Tollways Management Corp. (TMC) to 67 percent after entering into a sale and purchase agreement with Egis Road Operation S.A.
The additional 7 percent acquisition, costing P442.3 million, is expected to be completed on or around April 4, 2017, according to an announcement of MPTDC’s ultimate parent First Pacific Company Limited on the Stock Exchange of Hong Kong website late Tuesday.
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