Metro Pacific Investments Corp. expects to complete its acquisition of Manila North Tollways Corp., the concession holder for North Luzon Expressway, this month, sources in the company said.

The sources said completion of the acquisition could happen as early as next week, upon full payment of the purchase price of P12 billion.

MPIC intends to finance the acquisition with borrowings of P6.75 billion plus equity, they said.

MPIC, the local flagship firm of Hong Kong-based conglomerate First Pacific Co. Ltd., is buying Manila North Tollways from First Philippine Holdings Corp., the infrastructure arm of the Lopez group, and its parent company Benpres Holdings Corp. The sale signifies the Lopez group?s exit from the toll road business.

Manila North Tollways has the right to operate and manage the 83.7-kilometer North Luzon Expressway and 8.5-km Subic-Tipo Expressway, and to build, operate and manage Phase 2, which is the continuation of a link to the C-5 highway that would extend up to the Manila Port Area.

Aside from infrastructure, MPIC is also expanding into healthcare. Edited by INQUIRER.net