MANILA Water Co. Inc. (MWC) clinched a P10.7-billion investment deal with Prime Metroline Holdings Inc., the infrastructure company of tycoon Enrique Razon Jr., a move that analysts said would enable the Ayala Group to concentrate on their other core businesses.
In a disclosure, Manila Water announced that both parties signed a subscription agreement to acquire 820 million common shares of the embattled Ayala-led utility.
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