Tycoons Manuel V. Pangilinan and Ramon S. Ang are making progress in negotiations to combine their expressway units, as they started to brainstorm the possible projects that they will work on, such as an elevated toll road on C5 Road and EDSA.
As their talks gain headway, MPTC plans to dispose of its 44.9 percent stake in CII Bridges and Roads Investments Joint Stock Co. (CII B&R), the concessionaire for Hanoi Highway Expansion Phase 2 and the Rach Mieu Bridge in Vietnam.
"The complicating factor (for the merger) is that we have Indonesian operations. We will sell our Vietnam stake so our business structure will be simpler, so Vietnam is not part of the equation," Pangilinan told The STAR.
MPTC president and CEO Rogelio Singson confirmed to The STAR that the company is looking for a buyer for its share in CII B&R. He said MPTC expects to raise about P4 billion from the sale.
This story is from the March 11, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the March 11, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
JOHN LLOYD CRUZ CONSIDERS 'MONEYSLAPPER' ROLE HIS 'MOST SPECIAL' YET
Contrary to perhaps popular belief, John Lloyd Cruz isn't opposed to doing \"mainstream\" movies.
KathDen's 'Hello, Love, Again' premieres in 500 cinemas, holds midnight screenings
Kathryn Bernardo and Alden Richards were spotted hugging each other after the star-studded premiere of their highly anticipated reunion film, \"Hello, Love, Again.\"
Ethan Slater landing the role of Boq in 'wicked' has an element of magic to it
You could say that Ethan Slater's yellow brick road to getting cast in the big screen adaptation of \"Wicked\" had an element of magic to it.
HOW RICKY DAVAO FOUND HIS 'SILVER LINING' IN LOVE
Now that Derek Ramsay has a newborn daughter with his wife, Ellen Adarna, I suddenly remember what he told me a few years ago.
PHILIPPINE WINE MERCHANTS HOLDS 21ST GRAND WINE FESTIVAL AT MARRIOTT
The Philippine Wine Merchants holds the 21st Grand Wine Festival, Southeast Asia's biggest wine event, tomorrow at Marriott Grand Ballroom, Manila.
WINING & DINING IN HONG KONG
The Hong Kong Tourism Board (HKTB) recently presented the most anticipated food event in Asia.
THE LECHON SEASON IS HERE
Bo's Coffee shows me photos that look more suited to National Geographic than the Food Channel – images of rugged treks through hilly terrain, gathering with local coffee farmers in lush fields.
PAT CO: THE STORY OF AN HEIR AS A SPARE
I like Pat Go. There is something endearing about this boy-next-door chef.
MUY BUENO! FLAVORS FROM A SAN SEBASTIAN-TRAINED CHEF
Young chef Kennedy Alfonso enters towards the end of our 13-dish lunch at Bueno Tapas & Wine, red and white sangria in hand, to raise a toast.
DOE chief upbeat on natural gas bill
The possible enactment of a bill promoting the development of the natural gas industry by prioritizing the use of indigenous resources is a major step in ensuring energy security, a Cabinet official said.
