Metro Pacific Investments Corp. (MPIC) has begun reviewing the operations and finances of PrimeWater Infrastructure Corp., the water utility firm owned by the Villar Group, which is reportedly considering selling the company.

MPIC chairman and CEO Manuel V. Pangilinan said they signed a non-disclosure agreement with the Villar Group to access PrimeWater’s data and are now analyzing the numbers. He said the company expects to determine within a week whether it can make a formal offer.

Pangilinan stressed that MPIC has yet to decide if it will pursue the acquisition of the entire company or only selected profitable assets among PrimeWater’s more than 70 joint venture water districts nationwide. He added that PrimeWater’s existing debts were also raised during early discussions.

A potential deal may involve either Maynilad Water Services Inc. or MetroPac Water Investments Corp., MPIC’s two water units. Pangilinan said some of PrimeWater’s bigger assets could be attractive for Maynilad, but any move must be aligned with its partners DMCI Holdings and Marubeni.

Maynilad president and CEO Ramoncito Fernandez clarified that talks are currently only between MPIC and the Villar Group, but said Maynilad may join if the transaction proves commercially sound.