Manila Water Philippine Ventures, a subsidiary of Manila Water catering to cities and municipalities outside of East Zone, has signed a share purchase agreement (SPA) with EquiParco Holdings Corporation (EPHC), Metropac Water Investments Corporation (MWIC), and TwinPeak Hydro Resources Corporation (THRC) for the sale and purchase of 70% shares in Equipacific HoldCo Inc. (EHI).

Equipacific HoldCo Inc. is an investment company which holds 90% of the outstanding shares of Laguna Water District Aquatech Resources Corporation (LARC), a joint-venture company formed for the rehabilitation, improvement, expansion, operation, and maintenance of the water supply system of the Laguna Water District (LWD) in the municipalities of Los Baños, Bay, Calauan, Victoria and Nagcarlan in the province of Laguna.

With the acquisition, MWPV’s service coverage in Laguna is expected to increase from 21% to 27%. Currently, Laguna Water, a joint venture between MWPV and the Provincial Government of Laguna, provides water, wastewater, and environmental services to municipalities of Santa Rosa, Cabuyao, Binan, Pagsanjan, and several areas in Sta. Cruz, Pakil, Victoria and Calauan.

Laguna Water also provides water and wastewater services in various real estate developments in Laguna, which includes BellaVita (in Pila, Alaminos and San Pablo), Amaia (in Calamba and San Pablo) and Ayala Greenfield Estates - Calamba.

“The acquisition will provide MWPV with the opportunity to optimize operational synergies with Laguna Water for the benefit of the customers in the province of Laguna,” says Barny Kim, Manila Water New Business Development Head.