Manila Water is expanding its footprint in Latin America with a deal to acquire a majority stake in Mexican water utility Agua de Puebla. The company’s international arm, Manila Water Asia Pacific, signed a binding term sheet to buy 74.85 percent of the firm from two shareholders, Creando Estructuras and Agua de México.
Agua de Puebla operates drinking water supply, distribution, drainage, sewage, and wastewater treatment services. It holds a 30-year concession, awarded in 2014, to provide water and sanitation across several municipalities in the State of Puebla—including the City of Puebla, Mexico’s fourth-largest city. The concession can be extended yearly for up to 60 years total.
In 2024, the utility delivered 245 million liters of water per day to more than 1.5 million people. Puebla is a fast-growing economic hub and home to major global manufacturers such as Volkswagen, Audi, Nestlé, and Mondelez.
The acquisition supports Manila Water’s strategy of expanding into high-growth regions while securing operational control abroad.
“We hope to bring unique value and capabilities to accelerate Agua de Puebla’s development,” said Roberto Locsin, Manila Water’s COO for international business and chief administrative officer.
The deal will move forward once a final share purchase agreement is signed and all conditions are met.
