BRIEF-First Pacific says proposed merger between NLEX Corp and Tollways Management

April 17 (Reuters) - First Pacific Co Ltd :

* Proposed merger between NLEX Corporation and Tollways

Management Corporation

* Aggregate monetary consideration for all TMC common shares

should amount to approximately php6.3 billion

* Under merger, egis will transfer 49,400 TMC common shares

to NLEX in exchange for 133,380 NLEX common shares

* TMC shareholders participating in merger shall transfer

their TMC common shares to NLEX in exchange for 2.7 NLEX common

shares for 1 TMC common share

* Upon merger effective date, NLEX shall be deemed to have

acquired all assets and assumed all liabilities of tmc

* Accordingly, TMC and NLEX are indirect subsidiaries of


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