The Philippines’ Metro Pacific Tollways Corporation (MPTC) signed a deal on acquiring a portion of stock ownership in the Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII) on January 14.
MPTC purchased 30 million shares of CII Bridges and Roads Investment Joint Stock Company (CII B&R) from CII and subscribed to 1.02 million convertible bonds of the Vietnamese firm.
The transaction is worth 1.95 trillion VND (91.4 million USD).
The deal will take full advantage of CII’s local experience and MPTC’s professional practice to promote CII B&R as a leading company at both national and regional levels.
According to CII Chairman of the Board of Governors Le Vu Hoang, MPTC has financial strength and years of experience in operation and maintenance services of roads and bridges, especially with toll roads.
CII B&R has investments in infrastructure, road and bridge construction, clean water production, industrial zone infrastructure and real estate.
MPTC is the largest toll road operator in the Philippines, operating 63 percent of the 320 kilometres of toll roads.-VNA
MPTC purchased 30 million shares of CII Bridges and Roads Investment Joint Stock Company (CII B&R) from CII and subscribed to 1.02 million convertible bonds of the Vietnamese firm.
The transaction is worth 1.95 trillion VND (91.4 million USD).
The deal will take full advantage of CII’s local experience and MPTC’s professional practice to promote CII B&R as a leading company at both national and regional levels.
According to CII Chairman of the Board of Governors Le Vu Hoang, MPTC has financial strength and years of experience in operation and maintenance services of roads and bridges, especially with toll roads.
CII B&R has investments in infrastructure, road and bridge construction, clean water production, industrial zone infrastructure and real estate.
MPTC is the largest toll road operator in the Philippines, operating 63 percent of the 320 kilometres of toll roads.-VNA
