Metro Pacific Investments Corporation holds the concession rights to construct, operate and maintain the North Luzon Expressway.

Metro Pacific Investments Corp. (MPIC) has taken full control of an Indonesian road toll firm for a transaction worth P3.44 billion.

In a regulatory filing on Tuesday, MPIC subsidiary Metro Pacific Tollways Corporation (MPTC) acquired more than 2.12 million shares in Malaysian companies CIIF Infrastructure Holdings Sdn Bhd (CIIF) and CAIF III Infrastructure Holdings Sdn Bhd (CAIF III).

The shares comprised of four ordinary shares while the rest were preferred shares. Ordinary shares were bought at $6.35 million per share while the preference shares were priced at $24.19 apiece.

Overall, the shares were equivalent to a 100-percent stake in the two firms and effectively made MPIC an indirect owner of a 24.98 percent stake in PT Margautama Nusantara, which owns and operates toll roads in Indonesia.

CIIF holds a 20-percent stake in PT Margautama while another 4.98 percent is being held by CAIF.

Apart from thee 24.98-percent additional ownership, MPIC has a prior 74.98 percent stake in PT Margautama, through its Indonesian subsidiary PT Metro Pacific Tollways Indonesia.

“The resulting total equity interest of MPTC in MUN after the transaction will be 100 percent,” MPIC said.

The MPIC group also has interests in water (Maynilad Water Services Inc.), power (Manila Electric Company), hospitals (Makati Medical Center, Asian Hospital and Medical Center, Our Lady of Lourdes Hospital, among others), railways (Light Rail Manila Corp.) and logistics (MetroPac Movers Inc.)