IWL to exit Manila concession
- From: Vol 4, Issue 9 (September 2003)
- Category: General
- Region: Asia
- Country: Philippines
- Related Companies: Ayala Corporation, Bechtel, BPI Capital Corporation, Edison, International Water (IWL) and United Utilities
Manila Water Company’s shareholders are to inject fresh equity into the company to buy out IWL’s ownership interest. Meanwhile, MWC expects to post its best ever financial performance this year since taking over the east zone concession in 1997.
International Water (IWL), the troubled subsidiary of Bechtel and Italy’s Edison, is to quit the water and sewerage concession in Manila’s east zone. Its fellow shareholders Ayala Corporation, BPI Capital and
United Utilities (UU) will purchase the company’s stake in Manila Water Company (MWC).
Last month, MWC announced that it was issuing P500 million ($9 million) of ...
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