Ayala Corp. on Wednesday said it has further reduced its ownership in East Zone concessionaire Manila Water Co. Inc. as it sold 10.5 percent of its stake in the utility firm for P5.7 billion. Ayala along with its wholly-owned subsidiary Philwater Holdings Co. Inc. will sell 288.99 million Manila Water common shares and 436.24 million
Enrique Razon Takes Over Manila Water As Philippine Tycoon Steps Up Infrastructure Bets forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
BusinessWorld
June 4, 2021 | 5:59 pm
MANILA WATER Co. Inc. is now led by ports tycoon Enrique K. Razon, Jr. after his Trident Water Co. Holdings, Inc. completed its tender offer on June 3.
In a stock exchange disclosure on Friday, Manila Water announced that Trident Water led by Mr. Razon now has 51% voting interest in the east zone water concessionaire.
The water provider also disclosed that Mr. Razon was appointed as its director, chairman of the board of directors, president and chief executive officer, and chairman and member of the executive committee, effective June 3.
In turn, Manila Water said Fernando Zobel de Ayala stepped down as its chairman of the board of directors, chairman and member of the executive committee, and member of the talent and remuneration committee.