Villar Group sells PrimeWater to Lucio Co Group amid probes

The Villar Group is selling its water infrastructure company, PrimeWater, to the Lucio Co Group's Crystal Bridges Holding Corp. for 100% of its shares.

This sale occurs amid ongoing investigations and criticisms regarding PrimeWater's alleged service deficiencies, with President Ferdinand Marcos Jr. having previously ordered an investigation into its operations.

Senator Raffy Tulfo also highlighted dissatisfaction among 61 local water districts, many of whom reportedly wish to end their joint venture agreements with PrimeWater.

Consumers in Bacolod City expressed frustration, questioning if the sale is a solution and demanding accountability for PrimeWater.

Former senator Cynthia Villar stated that her husband, tycoon Manuel Villar Jr., wants to dispose of PrimeWater because it is being used against them in politics.

The Lucio Co Group's acquisition marks a pivotal consolidation in the Philippine water sector, underscoring how essential utilities have become strategic assets.

The deal signals a shift toward scale, balance-sheet strength, and long-term capital commitment in a sector strained by aging infrastructure, climate risk, and fragmented ownership.

While the transaction is legally sound, it sharpens investor and regulatory focus on governance, transparency, and the treatment of public water district partners.

The acquisition places responsibility squarely on Crystal Bridges to address PrimeWater's long-standing operational and consumer service challenges.

Ultimately, the success of the deal will be judged by whether scale is translated into better service, restored trust, and sustainable returns.