Benpres seeks exit from Maynilad
- From: Vol 3, Issue 8 (August 2002)
- Category: General
- Region: Asia
- Country: Philippines
- Related Companies: Benpres Holdings, Credit Lyonnais and Ondeo/Suez
PHILIPPINE CONGLOMERATE BENPRES HOLDINGS is seeking a buyer for its shares in Maynilad Water Services, its joint venture with Ondeo, which has a 25-year concession to provide water and wastewater services to the west zone of Manila.
Benpres has appointed Credit Lyonnais Securities Asia (CLSA) to help it find a buyer. The Lopez-owned company has been experiencing financial problems and is in the process of restructuring its loans. Asked for more details by GWI, a spokesperson said that CLSA had not yet come up with an information memorandum for potential investors but was scheduled to do so ...
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