San Miguel also reiterated it was interested in bidding for a stake in government-controlled oil and gas explorer PNOC-Exploration Corp, and has offered to build a $1bn dam east of the capital.
“We confirm that the company plans to sell up to 49% of San Miguel Pure Foods Company Inc, consistent with the company’s strategy to keep 51% of its core business, as previously approved by its stockholders,” San Miguel said in a statement to the Philippine Stock Exchange.
“The company is also interested in the Philippine National Oil Co-Exploration Corp and has submitted a proposal to build a $1bn dam east of Manila.”
Source: Reuters India
© FoodBev Media Ltd 2024