Manila Water acquires stake in Thailand's East Water | ABS-CBN
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Manila Water acquires stake in Thailand's East Water
Manila Water acquires stake in Thailand's East Water
ABS-CBN News
Published Mar 15, 2018 09:47 AM PHT
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Updated Nov 26, 2018 03:20 PM PHT
MANILA - Manila Water Co said Thursday it acquired an 18.7-percent stake in Thailand's East Water, as it looked outside the Philippines for growth.
MANILA - Manila Water Co said Thursday it acquired an 18.7-percent stake in Thailand's East Water, as it looked outside the Philippines for growth.
The Filipino company told the stock exchange it acquired 311.4 million ordinary shares of East Water on Wednesday, seeking "new business opportunities in Thailand and the South East Asia region."
The Filipino company told the stock exchange it acquired 311.4 million ordinary shares of East Water on Wednesday, seeking "new business opportunities in Thailand and the South East Asia region."
No other details were immediately available.
No other details were immediately available.
Manila Water, an Ayala Corp unit, supplies water to the eastern portion of the Philippine capital.
Manila Water, an Ayala Corp unit, supplies water to the eastern portion of the Philippine capital.
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Shares of Manila Water were up 0.36 percent in early trading after the transaction was announced, compared to a 0.44-percent decline on the main index.
Shares of Manila Water were up 0.36 percent in early trading after the transaction was announced, compared to a 0.44-percent decline on the main index.
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