 Manila Water (Thailand) Co., Ltd. (MWTC), an entity ultimately wholly owned by Manila Water Company, Inc. (MWC), sold today all of its interests in Eastern Water Resources Development and Management Public Company Limited (East Water) totaling 311,443,190 ordinary shares equivalent to 18.72% of the issued and paid-up registered capital of East Water, to Mr. Bhavin Kunaderekwong. The total selling price is Thai Baht 622.9 Million (~P1.10 Billion). The divestment is consistent with MWC’s core strategy, which prioritizes operational control and long-term value creation. Divesting this non-core holding enables MWC to reallocate capital and management bandwidth towards other strategic assets and initiatives.
The terms and conditions of the transaction: Number of shares to be acquired or disposed: 311,443,190 Percentage to the total outstanding shares of the company subject of the transaction : 18.72% Price per share: Thai Baht 2.00 The total selling price is Thai Baht 622.9 Million (~P1.10 Billion). East Water is a company engaged in the development and management of water distribution pipeline systems in Thailand. |
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