Singapore's GIC to buy 33% stake in Indonesian toll road operator PT Margautama Nusantara (updated)

First Pacific

06/11/2023 01:51

(Adds details on deal in paragraphs 2-4)
       Nov 6 (Reuters) - Hong Kong's First Pacific  0142.HK 
said on Monday Singapore's sovereign wealth fund GIC would
acquire a 33% stake in its Indonesian unit and toll roads
operator PT Margautama Nusantara for 3.317 trillion rupiah
($210.94 million).
    Under the deal, GIC will subscribe for 2,673 primary shares
in PT Margautama Nusantara on a fully diluted basis through
Warrington Investment, an investment vehicle owned by its unit.
    First Pacific added that Metro Pacific Tollways Corp (MPTC),
a unit of Philippine-based Metro Pacific Investments Corp, would
acquire a 10.3% stake in PT Margautama Nusantara for 1.033
trillion rupiah under a separate deal.
    First Pacific said that proceeds from the stake sales would
be used to refinance certain financing and transaction costs
related to its acquisition of toll road Japex in July last year.

($1 = 15,725.0000 rupiah)

 (Reporting by John Biju in Bengaluru; Editing by Rashmi Aich
and Subhranshu Sahu)
 ((John.Biju@thomsonreuters.com;))