Metro Pacific and GIC to acquire a 35% stake in Jasamarga Transjawa Tol for $1bn.

Metro Pacific, a Philippine-based unit investment holding company, and GIC, a Singapore sovereign wealth fund, agreed to acquire a 35% stake in Jasamarga Transjawa Tol, a network of 13 toll roads in the provinces of west, central and east Java, for $1bn. "This deal fortifies MPTC’s goal to expand in South-east Asia and enhance our infrastructure portfolio," Rogelio L Singson, MPTC President and CEO.