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Ayala Corp sells part of stake in Manila Water

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ABS-CBN News

<p>MANILA -- Ayala Corporation (AC) on Wednesday said it is selling part of its investments in Manila Water Company for P5.7 billion.</p><p>AC told the Philippine Stock Exchange that the company and it subsidiary Philwater Holdings Company, Inc. will sell 288,998,734 common shares and 436,243,932 participating preferred shares in a buyback transaction.</p><p>After the deal, AC will retain 23.5 percent voting stake and 22.5 percent economic stake in the water concessionaire.</p><p>Ayala Corporation&#x27;s core net income in the first half of 2023 climbed 55 percent to P20.5 billion.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/08/23/23/excess-collections-for-kaliwa-dam-may-burden-consumers-coa">Excess collections for Kaliwa Dam may burden consumers: COA</a></li>	<li><a href="https://news.abs-cbn.com/business/08/11/23/ayala-corp-net-income-climbs-55-pct-from-january-to-june">Ayala Corp. net income climbs 55 pct from January to June</a></li></ul><div><strong>RELATED STORY:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2838719" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

Ayala Corporation (AC) on Wednesday said it is selling part of its investments in Manila Water Company for P5.7 billion.