Billionaire Salim-Backed Metro Pacific, GIC Complete $1 Billion Indonesian Toll Road Deal [Forbes]
FIRST PAC CO LTD S/ADR (FPAFY)
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Source: Forbes
Metro Pacific Tollways —a unit of Manila-based Metro Pacific Investment Corp, which is jointly owned by Indonesian billionaire Anthoni Salim and Philippine tycoon Manuel Pangilinan—and Singaporean sovereign wealth fund GIC have finalized their $1 billion investment in Indonesian toll road operator Jasamarga Transjawa Tol. The company through its subsidiaries Margautama Nusantara (MUN) and Metro Pacific Tollways Indonesia Services (MPTIS), together with GIC's Warring Investment now holds a 35% stake in Transjawa Tol, according to a statement released by Metro Pacific Tollways on Monday. “This milestone marks our significant expansion in the Indonesian toll road market,” Rogelio L. Singson, CEO of Metro Pacific Tollways said in the statement. “Our collaboration with GIC and Jasa Marga underscores our commitment to expanding our portfolio by collaborating with the leading global investment firms and infrastructure providers.” Under the deal that was first announced by Salim's Hong
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