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Business > Corporate News
Ayala Corp to sell P5.7-B stake in Manila Water
By The Manila Times
Oct 12, 2023 12:17 am

AYALA Corp. said Wednesday it was reducing its stake in Manila Water Co. Inc. via a buyback transaction worth P5.7 billion.

In a disclosure, the conglomerate said it would sell 288,998,734 Manila Water common shares while wholly owned subsidiary Philwater Holdings Co. Inc. would sell 436,243,932 participating preferred shares, equivalent to a 10.5-percent stake in total.

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