MVP Group seals P2B purchase of Vietnam water firm
Metro Pacific Water Investments Corp. has completed the acquisition of 49 percent of Tuan Loc Water Resources Investment Joint Stock Co. (TLW), a leading water utility firm in Vietnam, for about P2 billion.
The purchase made through wholly owned subsidiary MetroPac Water Investments Corp. (MPW) further expands the group?s presence in Vietnam?s water space after it acquired 45 percent of Phu Ninh Water Treatment Plant Joint Stock Co.
MPW acquired a total of 37.926 million shares from an existing TLW shareholder for P52.70 per share.
TLW is one of the largest water companies in Vietnam, with 310 million liters per day of installed capacity.