History
On August 7, 2008, Metro Pacific Investments acquired a 67.1% interest in the operation and maintenance of the North Luzon Expressway (NLEX) from the Lopez group. This marked an entry of the company into investing in toll roads. [1] [2] Four years later, in 2012, the company also expanded its Philippine toll road portfolio with a ₱6.77-billion investment in the holding firm that controls the 14-kilometer Manila–Cavite Expressway (CAVITEX). [3]
In 2015, MPTC won the highest bid of ₱27.3 billion for the Cavite–Laguna Expressway (CALAX), the first project to be awarded by the company under public-private partnership (PPP), [4] followed by NLEX Connector, which was also awarded in the following year. [5] In 2024, MPTC was planned to merge with toll road assets with San Miguel Corporation, with $10 billion. The combined company may also be listed on the stock exchange if an agreement is achieved; however, this was later shelved a year later. [6] [7]
In March 2025, MPIC announced its intention to divest up to 20 percent of its stake in its tollways business as a strategy to decrease debt and generate capital. Manny Pangilinan, the chair, president, and CEO of MPIC, confirmed to reporters that a third-party entity had expressed interest in acquiring a portion of the conglomerate's shares in its subsidiary. [8]
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