Tycoon Lucio Co ramps up hiring at water unit after sealing PrimeWater deal

Tycoon Lucio Co is ramping up recruitment at Pamana Water Corp. amid plans to take over Manuel Villar Jr.’s PrimeWater Infrastructure Corp., signaling preparations for a wider operating footprint in the water business.

Pamana Water began rolling out hiring posts on Facebook about a week after the mid-December takeover announcement, with recruitment ads running from Dec. 22, 2025 through Jan. 21, 2026.

Roles posted

The company advertised openings for social media and human resources administrative assistant, accounting staff, and audit staff, based on the job posters.

It also posted a senior operational role for a septage management operations head, pointing to hiring needs that go beyond corporate support functions.

Cosco Capital president and board member Leonardo Dayao (second from left) during a Dec. 22 visit to PrimeWater, where the group held discussions on operations updates, current initiatives, and water service practices./Photo from Pamana's website

Deal context

InsiderPH earlier reported the PrimeWater deal value at around P30 billion, mostly debt, while the Villar family was estimated to have cashed out roughly P10 billion for its shares.

The transaction marks Co’s biggest leap yet into water infrastructure as he diversifies beyond retail and financial services and moves into regulated utilities.

Co is also in talks with experienced water partners to help run the business, with the group of tycoon Dexter Tiu, who’s backing Tubig Pilipinas, emerging as a potential ally. 

—Edited by Miguel R. Camus 

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