Manila Water Co. Inc. through its subsidiary Manila Water Philippine Ventures Inc. (MWPV) has acquired 70 percent interest in Equipacific HoldCo Inc. (EHI) for a total purchase price of P1.15 billion.
In a disclosure to the Philippine Stock Exchange yesterday, Manila Water said the move allows MWPV to “establish a stronger foothold and strategically grow its water and wastewater supply operations in the province of Laguna.”
MWPV purchased 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 which holds 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.
