JAKARTA. PT Margautama Nusantara (MUN), a subsidiary of PT Nusantara Infrastructure Tbk (META) engaged in toll road business, is recording two new investors.

These new investors are Warrington Investment Pte. Ltd. (WIPL) dan PT Metro Pacific Tollways Indonesia (MPTI). Both investors, along with MUN, signed the shares acquisition agreement in Jakarta last week.

For the record, WIPL is an investment holding company based in Singapore, and is a subsidiary of GIC Ventures, a capital venture owned by Singaporean government. Meanwhile, MPTI is a subsidiary of Metro Pacific Tollways Corporation (MPTC) based in Philippines, affiliated with META.

In the agreement, WIPL is said to acquire 2,673 shares or 33% of MUN’s shares for USD 209.9 million. Meanwhile, MPTI will take over 883 shares or 10.3% of MUN’s shares for USD 65.4 million.

Indah D.P. Pertiwi, Head of Corporate Communication & CSR of META, said that this corporate action is a follow up of the acquisition of 40% of Jasamarga Jalanlayang Cikampek (JJC), a managing company of Mohamed Bin Zayed (MBZ) Highway. “It is carried out to pay off debts of acquisition of MBZ Highway dated last December,” she explained.

With this corporate action under way, Pertiwi added, the company’s performance is expected to improve. Furthermore, in relation to MUN’s additional capital, the company will hold Extraordinary General Meeting of Shareholders. (KR/ZH)