MPTC looking to close Indonesian deal by July

METRO Pacific Tollways Corp. is looking to finalize the acquisition of a 35-percent stake in an Indonesian state-owned toll road operator by July as it is crucial to a planned merger with San Miguel Corp.'s (SMC) tollway business.

"What we're waiting for there, the last major piece, is the closing of the Trans-Java toll road because it's big. So, from an evaluation standpoint, it's important to us because it's valuable," MPTC Chairman Manuel V. Pangilinan said when asked about the planned merger with SMC's tollway business.