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‘End of an era’: Ayala exits Manila Water

By Inquirer - 6 months ago
MANILA, Philippines — After a 27-year investment in a highly regulated utility, the Ayala conglomerate is unloading its remaining economic interest in Manila Water Co. (MWC) to tycoon Enrique Razon Jr.-led Trident Water Company Holdings Inc. for P14.5 billion. Building up group-wide cash reserves, Ayala Corp. and subsidiary Michigan Holdings Inc. are collectively selling their

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