AUS: San Miguel may up Berri holding - report
The Australian juice group Berri may see its majority owner San Miguel Corporation increase its stakeholding in the company.
A local news report from the Philippines, where San Miguel is based, suggested the food and drink conglomerate may look to up its 51% holding in Berri, by exercising an option to acquire the shares it doesn't already own.
The Philippine Daily Inquirer quoted unnamed San Miguel sources in its report.
The Philippine drinks and food producer bought its stake in Berri in August last year.
Although the purchase price was not disclosed, San Miguel at the time said the deal valued Berri at A$335m.
More recently, speculation has surrounded the possibility that San Miguel would look to merge Berri with another of its Australian businesses National Foods.
It is feared hundreds of jobs could go at both companies if the move goes ahead.
According to reports earlier this month, the job cuts are expected to be made by early-October.
Sectors: Soft drinks
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