San Miguel to sell off its stake in Meralco to fund its oil and gas expansion. (Photo : Reuters)The image is the corporate logo of the Philippines' San Miguel Corporation.
Tags: San Miguel Corp
Kellogg CEO planning to meet United Biscuits to discuss deal
Cereal maker Kellogg Co's (K.N) chief executive officer is planning to meet with cookies and snacks maker United Biscuits Ltd (IPO-UNI.L) to discuss a possible 2 billion pound ($3.23 billion) offer for the British company, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
San Miguel power generation unit SMC Global Power to go public next year
SMC Global Power Holdings Corp, the holding firm for San Miguel Corp's power generation assets, is eyeing for an initial public offering in 2014. SMC Global Power aborted its listing in September, citing adverse market conditions.
JG Summit completes stake acquisition in the Philippine's largest power firm
Philippine-based JG Summit Holdings Inc has completed its buyout of San Miguel Corp's 27% stake in power distribution company Manila Electric Co (Meralco) for PHP72 billion.
San Miguel sells stake in Manila Electric
San Miguel Corp sold its 27.1% stake in Manila Electric Company to JG Summit Holdings Inc. valued around USD2 billion.
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Current constitutional restrictions on foreign ownership of real property is what is causing the delay in the sale of 60% of the 84% ownership of SMC in Bank of Commerce by CMIB.
The oversubscription of the San Miguel Corp bond issue brings with its dislocation according to institutional investors.
The largest corporate bond issue of the Philippines was recently launched by San Miguel Corp. The Philippines' most diversified corporation, San Miguel Corporation has raised a US$800 million through a ten year bond issue.
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