The group of businessman Manuel V. Pangilinan (MVP) confirmed it is in preliminary discussions with the Villar Group for a possible acquisition of Prime Water Infrastructure Corp., one of the country’s largest private water operators.
Pangilinan said a non-disclosure agreement has been signed, and his team began due diligence about two to three weeks ago after the Villar group opened its financial and operational data. Initial feedback from the analysis is now being reviewed, and an offer could be framed within the next week, although no deal has been finalized yet.
Prime Water reportedly operates 70 to 80 properties nationwide, ranging from large-scale systems to smaller water projects. MVP noted they are still weighing whether to acquire the entire portfolio or select profitable assets only. The company is also assessing Prime Water’s outstanding debts before making any valuation or offer.
The talks are being led by Metro Pacific Water, but Maynilad Water Services, the West Zone water concessionaire partly owned by the MVP Group, could be interested in acquiring some of Prime Water’s larger assets. Pangilinan said the potential expansion outside Maynilad’s current service area could now be more acceptable to its partners, DMCI Holdings and Marubeni, following Maynilad’s recent stock exchange listing.
Maynilad president Ramoncito Fernandez clarified that the discussions are between Metro Pacific Investments Corp. (MPIC) and the Villar group, but said Maynilad may join if the move makes commercial sense for all stakeholders.
If successful, the deal could reshape the local water industry, bringing together two major private sector players and potentially expanding MVP’s footprint beyond Metro Manila’s West Zone.
