Metro Pacific Tollways Corp. (MPTC) through its subsidiaries PT Margautama Nusantara (MUN) and PT Metro Pacific Tollways Indonesia Services (MPTIS), and its partner, global institutional investor GIC have finalized its strategic investment cooperation for a 35 percent stake worth about $1 billion in PT Jasamarga Transjawa Tol (JTT) – a subsidiary of the leading Indonesian state-owned toll road company, PT Jasa Marga (Persero) Tbk (Jasa Marga).
The final closing was attended by the officials of MPTC, MPTIS, and MUN last week.
“This milestone marks our significant expansion in the Indonesian toll road market. 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,” said Rogelio Singson, MPTC president and chief executive officer.
The investment will allow Jasa Marga to raise capital, maintain a healthy leverage level, and continue expanding toll road networks across Indonesia.
By bringing in MPTC and GIC as new and value-adding partners, Jasa Marga can maintain full control over JTT’s strategic infrastructure assets and solidify the quality of its service.
Last year, GIC purchased 33 percent stake in PT Margautama Nusantara (MUN) for $209.9 million. MPTC’s stake in MUN has decreased to 60.3 percent.
MPTC partnered with GIC in bidding for JTT.
