<article>A unit of <a style="color: #000080" href="https://www.dealstreetasia.com/?s=Manila+Water" target="_blank" rel="noopener noreferrer">Manila Water Company Inc</a> in Singapore has increased its stake in Vietnam-based <a style="color: #000080" href="https://www.dealstreetasia.com/?s=Saigon+Water" target="_blank" rel="noopener noreferrer">Saigon Water Infrastructure Corp (SII)</a> from 31.47 per cent to 37.99 per cent.</article>

A unit of <a style="color: #000080" href="https://www.dealstreetasia.com/?s=Manila+Water" target="_blank" rel="noopener noreferrer">Manila Water Company Inc</a> in Singapore has increased its stake in Vietnam-based <a style="color: #000080" href="https://www.dealstreetasia.com/?s=Saigon+Water" target="_blank" rel="noopener noreferrer">Saigon Water Infrastructure Corp (SII)</a> from 31.47 per cent to 37.99 per cent.
Manila Water disclosed its wholly-owned subsidiary <a style="color: #000080" href="https://www.dealstreetasia.com/?s=MWSAH" target="_blank" rel="noopener noreferrer">Manila Water South Asia Holdings Pte Ltd (MWSAH)</a> has signed an investment agreement with SII for the acquisition of additional 6.146 million primary shares of the Vietnamese firm priced at 16,900 Vietnamese Dong per share for a total of $4.587 million (104.1 billion dong). This will allow MWSAH to own a total of 37.99 per cent of the outstanding capital stock of SII.
&#8220;Under the Agreement, MWSAH shall pay the subscription price after compliance by SII with all the Conditions Precedent, unless waived by MWSAH,&#8221; Manila Water said, in its statement.
SII is a holding company in Vietnam that is listed in the Ho Chi Minh City Stock Exchange. It aims to become the first fully integrated company in the Vietnam water and wastewater infrastructure sector, through the construction of water and wastewater treatment plants, provision of engineering, operations and management services, among others.
Also Read: <a style="color: #ff0000" href="https://www.dealstreetasia.com/stories/manila-waters-singapore-unit-buys-24-5-stake-in-vietnams-cu-chi-water-for-7m-18406/" target="_blank" rel="noopener noreferrer">Manila Water’s Singapore unit buys 24.5% stake in Vietnam’s Cu Chi Water for $7m</a>
SII&#8217;s current investments include Tan Hiep 2, a bulk water company providing 300 million iters per day to the state-owned utility serving the area of Hoc Mon, Ho Chi Minh City.
The holding firm also has investments in Cu Chi Water which distributes water to the Cu Chi district in Ho Chi Minh City with almost 75,000 water service connections.
Outside of Ho Chi Minh City, SII has investments in a 20 million liter per day bulk water company as well as a water distribution firm in the major provinces of Gia Lai and Lam Dong, respectively.
Manila Water holds the exclusive right to provide water and wastewater services to the eastern side of Metro Manila called East Zone, where it currently serves more than six million customers. The East Zone covers 23 cities and municipalities spanning a 1,400-square kilometer area.
Also Read: <a style="color: #ff0000" href="https://www.dealstreetasia.com/stories/philippines-maynilad-moya-indonesia-form-new-jv-water-services-firm-59155/" target="_blank" rel="noopener noreferrer">Philippines: Maynilad, Moya Indonesia form new JV water services firm</a>
Besides SII, the Ayala-led water company is also affiliated with two other Vietnam-based companies, the <a style="color: #000080" href="https://www.dealstreetasia.com/?s=Thu+Duc+Water" target="_blank" rel="noopener noreferrer">Thu Duc Water BOO Corp</a> (Thu Duc Water), and <a style="color: #000080" href="https://www.dealstreetasia.com/?s=Kenh+Dong+Water" target="_blank" rel="noopener noreferrer">Kenh Dong Water Supply Joint Stock Company</a> (Kenh Dong Water)
Thu Duc Water and Kenh Dong Water supply treated water to Saigon Water Company under a take-or-pay arrangement. Manila Water’s pilot leakage reduction project in Ho Chi Minh City which started in 2008 was completed in August 2014.
Manila Water&#8217;s last trading price increased 0.93 per cent or P0.300 to close at P32.40 per share on Monday (May 29).
Also Read:
<a style="color: #ff0000" href="http://www.dealstreetasia.com/stories/philippines-mpic-enters-wastewater-biz-acquires-65-esti-38-7m-44617/" target="_blank" rel="noopener noreferrer">Philippines: MPIC enters wastewater biz, acquires 65% of ESTI for $38.7m</a>
<a style="color: #ff0000" href="https://www.dealstreetasia.com/stories/vietnam-masan-group-to-acquire-65-stake-in-quang-ninh-mineral-water-18272/" target="_blank" rel="noopener noreferrer">Vietnam: Masan Group to acquire 65% stake in Quang Ninh Mineral Water</a>

Manila Water's Singapore unit ups stake in Vietnamese firm

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Manila Water's Singapore unit ups stake in Vietnamese firm

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief