Monday, December 11, 2006

Salim Group won Philippine water privatization

Salim Group's subsidiary Metro Pacific Investment Co (MPIC) and its partner DMCI Holdings Inc won the competitive bidding to acquire 83.9% shares of Maynilad Water Services Inc from Philippine govt at USD447 million. MPIC is the local unit of Salim Group's Hong Kong-listed First Pacific Co., which also controls Philippine Long Distance Telephone Co. (PLDT), the country’s largest telecom service provider. This is one of the largest overseas investment from Salim in recent years besides the USD5 billion investment in India.

Salim Group's other major investment is Dalu Coal Chemical Industrial Park in Mongolia, which has recently started its construction in Zhunge er County of Erdos City. The company also invests USD240 million on dairy farm in the country.
Few years back, Salim acquired 45% shares in Cosco Property Group with USD500 million. This gave the Salim group an entry into Shanghai’s booming real estate business. How about Indonesia, where Salim started to build up its fortune?

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