Ayala Expands Investment in Vietnam

[MikeLigalig.com]

By JAMES A. LOYOLA

MANILA, Philippines — Ayala Corporation and subsidiary Manila Water Company Inc., are expanding their presence in Vietnam’s infrastructure business, including water supply and transportation facilities.

In disclosures to the Philippine Stock Exchange, Ayala and MWC said they have been respectively awarded by Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII), the right to purchase a 10 percent stake in CII and a 49 percent stake in Kenh Dong Water Supply Joint Stock Company.

Ayala Corporation had earlier offered to purchase a 10 percent stake in CII concurrent with MWC’s offer to acquire a 49 percent stake in Kenh Dong.

“This investment primarily supports and complements the expansion of Manila Water Company as it gradually builds its presence in Vietnam,” said Ayala president and MWC chairman. Fernando Zobel de Ayala.

Zobel added that the investments also provide them with strategic access to other related infrastructure opportunities which may be of value to the group.

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