News

Its recent acquisition of Ayala Corporation’s remaining stake in Manila Water Company, Inc. underscores Razon-led Prime Infrastructure Capital Inc.’s (Prime Infra) commitment to strengthen the growth and expansion trajectory of the Philippines’ leading water utility firm.

“Manila Water continues to deliver reliable and efficient water and wastewater services to communities in key metros in the Philippines and abroad. We look forward to the company’s future as we continue optimizing the business and expanding both our domestic and international operations” said Enrique K. Razon Jr., chairman of both Prime Infra and Manila Water.

Manila Water will continue to leverage Prime Infra’s expertise and track record in business development, project delivery, and operation of long-term assets in highly regulated industries and complex geographies.

Guillaume Lucci, President and CEO of Prime Infra, said the move is in line with Prime Infra’s intra-group synergy, as it continues to capture opportunities within its different business groups.

“The development solidifies Prime Infra’s market leadership in the water sector, driven not only by the performance and potential of Manila Water at home and abroad, but also by its synergy with our other majority controlled bulk water subsidiary WawaJVCo Inc.,” he said.

WawaJVCo is operating Phase 1 of the Wawa Bulk Water Supply Project, and developing the significantly larger Phase 2 Upper Wawa Dam capable of delivering 710 million liters per day (MLD) of raw water.

The acquisition of Ayala’s remaining stake will result in Trident Water holding 81.9% voting stake and 62.2% economic interest (the remainder to vest upon completion of payments). Trident Water is the Prime Infra unit which holds control of Manila Water.