Manila Water Co. Inc. has acquired Prime Infrastructure Inc.'s stake in WawaJVCo for approximately USD 657 million, reinforcing its strategy for long-term water security.

Target Information

Manila Water Co. Inc. has made a significant move in the Philippine water supply sector by signing a share purchase agreement with Prime Infrastructure Inc. on August 13, 2025. The agreement involves the acquisition of Prime Infrastructure's interest in WawaJVCo, which is responsible for the Wawa Bulk Water Supply project located in Rizal. The transaction is valued at approximately PHP 37.8 billion (around USD 657 million, based on an exchange rate of USD1 = PHP7.50), and is expected to close by the end of September 2025. This acquisition aligns with Manila Water's long-term strategy to ensure water security in the region.

WawaJVCo plays a crucial role in supplying water in a rapidly growing area, thereby making it an attractive asset for Manila Water. The company aims to enhance its operational capabilities and streamline resources for better water management to cater to the needs of the local population.

Industry Overview in the Philippines

The Philippine water utilities sector is undergoing a transformation, largely driven by the increasing demand for reliable and accessible water supply services in urban areas. Rapid population growth, coupled wi