Manila Water Subsidiary Acquires 31% of Vietnam’s Saigon Water
Manila Water South Asia Holdings Pte. Ltd. (MWSAH), a wholly‐owned subsidiary of Manila Water Company Inc. (PSE: MWC) in Singapore, has signed an Investment Agreement with Saigon Water Infrastructure Corporation (SII) for the acquisition of 18,370,000 primary shares of SII which will constitute 31.47% of the outstanding capital stock of SII.
However, under the Agreement, MWSAH shall pay the subscription price only after compliance by SII with all the Conditions Precedent.
SII is a Vietnam company listed in the Ho Chi Minh City Stock Exchange since September 2012. It aims to become the first fully integrated company in the Vietnam water and wastewater infrastructure sector, through the construction of water and wastewater treatment plants and the provision of engineering, operation and management services and other similar activities.
There are no material relationships between the directors or officers of Manila Water and MWSAH, and SII at the time of the signing of the Agreement.