outbrain
Close  

BREAKING: Razon group acquires 25% of Manila Water

11:46 AM February 03, 2020

MANILA, Philippines — The Razon group’s Prime Metroline Holdings Inc. has signed with the Ayala group’s Manila Water Co. Inc. a subscription agreement for the acquisition of a 25-percent stake in the latter.

The P10.7-billion deal covers 820 million common shares of Manila Water.

ADVERTISEMENT

“Our partnership with the Razon group will result in clear synergies to achieve Manila Water’s long-term goal of providing sustainable water and wastewater services to our customers in the East Zone of Metro Manila and in the other markets we serve,” Manila Water chair Fernando Zobel de Ayala said in a statement.

“Our partnership combines our respective technical and management expertise. Looking beyond our domestic businesses, the extensive global experience of Mr. Razon through his port operations opens more opportunities for Manila Water to serve new markets,” Zobel said.

FEATURED STORIES

Read Next
EDITORS' PICK
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Ayala group, East Zone, Enrique Razon, Fernando Zobel de Ayala, Manila Water, Prime Metroline Holdings Inc.
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.