EGCO Group sells entire stake in East Water
Electricity Generation Plc (EGCO Group) has sold all its shares in Eastern Water Resources Development and Management Plc (East Water) to the Manila Water Company, the company announced on Monday.
EGCO president Jakgrich Pibulpairoj said the group had entered into a Share Purchase Agreement with the Manila Water Company to sell all its shares, equal to an 18.72 per cent stake.
It plans to use the proceeds for further business expansion and the transaction is expected to be completed within the first quarter of 2018.
