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Manila Water Co Inc's Acquisition Of Indonesia Water Utility Rejected-DJ

Tuesday, 2 Jul 2013 11:55pm EDT 

Dow Jones reported that Manila Water Co Inc said its agreement to acquire a 51% stake in PT PAM Lyonnaise Jaya, or PALYJA, has been rejected by the Jakarta-owned water utility PAM Jaya. Manila Water had agreed in October last year to buy Suez Environment's 51% stake in PALYJA. The remaining 49% of PALYJA is held by PT Astratel Nusantara, a subsidiary of automotive firm PT Astra International. PAM Jaya's approval of the transaction was necessary to close the acquisition. 

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-0.5 -1.89%
11 Jul 2014