In a statement, San Miguel president and chief operating officer Ramon S Ang said: “San Miguel Corp has ruled out selling a controlling stake in its beer operations to Kirin Holdings Co of Japan, even as it prepares to unload its food and packaging businesses to raise $1 billion to finance expansion and acquisitions”.
The Philippines based brewery was “not available’ for sale”, he concluded, after Kirin, which owns 48% of San Miguel Brewery, said it was interested in taking majority control.
Source: San Miguel Corp
© FoodBev Media Ltd 2024