Prime Metroline to acquire a 25% stake in Manilla Water for $209m.

Prime Metroline, led by businessman Enrique Razon, agreed to acquire a 25% stake in Manilla Water, a provider of water and used water services, for $209m. "Our partnership with the Razon group will result in clear synergies to achieve Manila Water’s long-term goal of providing sustainable water and wastewater services to our customers in the East Zone of Metro Manila and in the other markets we serve. Our partnership combines our respective technical and management expertise. Looking beyond our domestic businesses, the extensive global experience of Mr. Razon through his port operations opens more opportunities for Manila Water to serve new markets," Fernando Zobel de Ayala, Manila Water Chairman.