Manila Water Co., which supplies water to half of the Philippine capital, said it acquired a 47 percent stake in a Vietnamese water distributor through its Singapore unit to expand in Vietnam. Terms weren’t disclosed.
The completion of the deal by Manila Water, provider of water and sewer services to 6 million city and metro residents, for almost half of Kenh Dong Water Supply Joint Stock Co. was disclosed in a Philippine Stock Exchange filing. The utility bought 49 percent of Thu Duc Water BOO Corp. last November.
Kenh Dong, founded in 2003, has a bulk water supply contract with Saigon Water Corp., the state-owned company that manages the Ho Chi Minh City water supply system.
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