Philippine defers sale of Tollways Corporation
The government of the Philippines has deferred the sale of its 20% stake in Tollways Management Corporation (TMC). The decision has been taken due to the community quarantine situation in Manila amid the COVID 19 disease. The transaction is now under 'suspended till further notice' state.
Earlier the office of Privatization and Management Office (PMO) was supposed to accept the offers for the stake by March 20, 2020.
TMC operates and maintains toll roads in major expressways in the capital region. It is a unit of NLEx Corp, a subsidiary of Metro Pacific Tollways Corp. NLEx Corp. is the builder-concessionaire and operator of North Luzon Expressway and Subic-Clark-Tarlac Expressway.
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