MANILA: Philippine billionaire Enrique Razon (pic) will acquire a 25% stake in Ayala Corp-led Manila Water Co Inc ahead of the water company’s contract negotiations with the government.
Razon’s Prime Metroline Holdings Inc will pay 10.7 billion pesos (US$210mil) for 820 million shares at 13 pesos each, Manila Water said in a stock exchange disclosure on Monday (Feb 3).
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