Over 90 million USD poured into Vietnam’s infrastructure company
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.
The Philippines’ Metro Pacific Tollways Corporation (MPTC) signed a dealon acquiring a portion of stock ownership in the Ho Chi Minh CityInfrastructure Investment Joint Stock Company (CII) on January 14.
MPTC purchased 30 million shares of CII Bridges and Roads InvestmentJoint Stock Company (CII B&R) from CII and subscribed to 1.02million 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 andMPTC’s professional practice to promote CII B&R as a leading companyat both national and regional levels.
According to CIIChairman of the Board of Governors Le Vu Hoang, MPTC has financialstrength and years of experience in operation and maintenance servicesof roads and bridges, especially with toll roads.
CII B&Rhas investments in infrastructure, road and bridge construction, cleanwater 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
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