Metro Pacific Tollways Corp. (MPTC) reported on Monday it had completed the sale of its 10.32-percent stake in Indonesian infrastructure firm PT Margautama Nusantara (MUN) to a Japanese consortium. In a disclosure, MPTC parent Metro Pacific Investments Corp. (MPIC) said the transaction, amounting to $35.2 million, was sealed on May 8 through its unit CIIF Infrastructure Holdings Sdn. Bhd. The Japanese group is composed of West Nippon Expressway (Nexco-West), Japan Expressway International Co. Ltd. (Jexway) and Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (Join). MPIC said the sale was “expected to advance the strategic partnership of MPTC with” the consortium, “which is envisioned to help contribute to the growth of MUN.” MPTC would continue to hold majority ownership in MUN through Nusantara Infrastructure Tbk.MPIC shares fell by 5 centavos or 1.82 percent to close at P2.70 each on Monday.
