The Daily Tribune
Manila Water unloads P1.1-B stake in Thai utility
Manila Water Company Inc. (MWC) has divested its entire 18.72% stake in Thailand's Eastern Water Resources Development and Management Public Company Limited (East Water) for P1.10 billion.
MWC's subsidiary, Manila Water (Thailand) Co. Ltd. (MWTC), sold its 311,443,190 ordinary shares to Mr. Bhavin Kunaderekwong for 622.9 million baht.
The company stated that this divestment aligns with its core strategy of prioritizing operational control and long-term value creation.
This move will allow MWC to reallocate capital and management resources to other strategic initiatives and assets.
MWC recently bolstered its East Zone network by acquiring a stake in WawaJVCo Inc., integrating the Wawa Dam system.
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