‘End of an era’: Ayala exits Manila Water

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
Read The Rest at :