AYALA-LED Manila Water Co., Inc. has acquired a stake in a listed water company in Thailand, marking its continuous expansion in Southeast Asia. Manila Water said on Monday that it had signed a share purchase agreement with Electricity Generating Public Co. Ltd (EGCO) to purchase EGCO’s 18.72 percent equity in Eastern Water Resources Development and Management Public Co. Ltd. (East Water). “The acquisition of shares in East Water will be Manila Water’s first venture into Thailand’s water industry,” it added. “Our entry into the Thailand water space aligns squarely with our internalization strategy, with focus in Southeast Asia. East Water is a publicly listed company in Thailand that is engaged in the business of supplying raw and tap water supply services in the eastern region of Thailand.

Source: Manila Times February 19, 2018 16:07 UTC