Manila Water Co. Inc. subsidiary, Manila Water Philippine Ventures Inc. (MWPV) has acquired a 70 percent interest stake in Equipacific HoldCo Inc. (EHI) at the cost of P1.15 billion.
In a disclosure to the Philippine Stock Exchange, the company said the acquisition allows MWPV to get a stronger foothold and strategically grow its water and wastewater supply operations in the province of Laguna.
MWPV purchased the stakes held by Equi-Parco Holdings Corp. (30 percent), Metropac Water Investments Corp. (30 percent) and TwinPeak Hydro Resources Corp. (10 percent) from EHI.
EHI is an investment company holding 90 percent of the outstanding shares of Laguna Water District Aquatech Resources Corp., a joint-venture company formed for the rehabilitation, improvement, expansion, operation and maintenance of the water supply system of the Laguna Water District in the towns of Los Baños, Bay, Calauan, Victoria and Nagcarlan.
Manila Water serves customers in Makati, Pasig, Pateros, Marikina, Mandaluyong, San Juan, Taguig, some parts of Quezon City and Manila; and several towns in Rizal province that include Taytay, Teresa, Angono, Antipolo, Baras, Binangonan, Cainta, San Mateo and Rodriguez.
It also has partnerships with water districts in Tagum, Davao del Norte; Bulacan; Clark in Pangasinan; Calasiao in Pangasinan; San Jose in Nueva Ecija; Laguna; Boracay in Aklan; Cebu; as well as with property developments through Estate Water.Overseas, Manila Water has operations in Thailand, Vietnam, Saudi Arabia, Indonesia and Myanmar.
