In a disclosure to the Philippine Stock Exchange, Ayala said it remains a shareholder of MWC with a stake that is diluted to 38.6 percent.
“The entry of Prime… as a strategic investor to Manila Water is expected to bolster Manila Water’s ability to provide reliable, efficient, and sustainable water and wastewater services in the East Zone and at the same time pursue growth initiatives both domestically and globally,” MWC said. “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 Chairman Fernando Zobel de Ayala said.
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