MPIC plans to sell up to 20 per cent of its stake in its toll road unit

MPIC plans to sell up to 20 per cent of its stake in its toll road unit, Metro Pacific Tollways Corporation, to raise funds for new projects. Currently, the company has received interest from Chinese and European investors. MPIC’s toll road business, including two expressways and a connector road project, is valued at PhP 80 billion. Subject to the availability of an investor and the right price, MPIC is likely to complete the deal by the third quarter of 2014. The proceeds will also be used to facilitate the further expansion of its hospital business.