PHILIPPINES: San Miguel Brewery owner offered US$6bn for majority stake - report
San Miguel Brewery is 51% owned by San Miguel Corp
San Miguel Corp has been offered as much as US$6bn for the majority share in its namesake brewing unit, the company's president has said in an interview.
The group, Asia’s largest publicly-listed food, beverage and packaging company, owns 51% of San Miguel Brewery, with Japan’s Kirin Holdings controlling the remainder. The brewer delisted from the Philippine Stock Exchange a year ago while volumes and profits dipped last fiscal year.
In an interview with the Wall Street Journal, Ramon Ang, president and COO of San Miguel Corp, said the company had received offers from “several groups” for the brewery stake, including $6bn from an unnamed suitor. Ang said a sale would only happen if the company can “secure another lucrative deal”.
Ang also revealed in the interview that San Miguel Corp was in line to acquire an un-named “regional company”.
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