Tag Archive | "San Miguel Corporation"

San Miguel Corporation to Invest in Top Frontier Holdings

San Miguel Corporation to Invest in Top Frontier Holdings

San Miguel Corporation (SMC) is to invest in Top Frontier Holdings Incorporated by acquiring 49 per cent of the company. Top Frontier, an investment holding company, will help SMC to diversify into infrastructure, telecommunications, mining, energy and related industries. The amount that SMC will pay for the acquisition has not been disclosed. SMC also said that Top Frontier has offered to buy out San Miguel Shareholders at 75 pesos (£1.02) per share. Ramon S Ang, president and chief operating officer at SMC, said: "This investment will ensure continuity of the ongoing business operations and strategic plan of SMC and the stability of its organisation. It is a step towards broadening the shareholder base of SMC." He went on to say that the SMC's board of directors believes that the investment is in the long-term interest of the company's shareholders. Last month, San Miguel Brewery Incorporated announced that it was to acquire 100 per cent of San Miguel Brewing International Limited with an enterprise value of US$300 million (£187.87 million). [...more]

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San Miguel Buys Into Firm Led By Ongpin, Zobel and Campos

San Miguel Buys Into Firm Led By Ongpin, Zobel and Campos

Diversifying food and beverage conglomerate San Miguel Corp. will buy a 49% stake in a major shareholder led by former trade minister Roberto V. Ongpin. San Miguel told the exchange yesterday its board had approved an investment in Top Frontier Investment Holdings, Inc., without disclosing the amount involved. Top Frontier owns 28% of San Miguel, buying the entire stake of the conglomerate's retirement plan for P64.3 billion in November, the biggest corporate deal last year. Major shareholders are Mr. Ongpin, Iñigo U. Zobel and Joselito D. Campos, Jr. Messrs. Ongpin and Zobel are also major shareholders of Q-Tech Alliance Holdings, Inc., which bought 20% of the conglomerate from Japan's second- largest brewery, Kirin Holdings Co., for P39.61 billion last year. San Miguel said Top Frontier would buy 327 million San Miguel shares owned by Q-Tech Alliance, with an option to buy the remaining 302 million. Top Frontier will also acquire Q-Tech Alliance's rights over "various major mining assets." Once Top Frontier acquires Q-Tech's shares in the conglomerate, the investment company will offer to buy stock held by the minority shareholders of San Miguel at P75.00 apiece in March. "Top Frontier has also agreed to ensure the pursuit of strategic direction of San Miguel to diversify into infrastructure, telecommunications, mining, energy and related industries. As agreed by both companies, the composition of San Miguel's board will remain the same," San Miguel said in a statement. [...more]

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San Miguel Acquires Aussie packing Firm

San Miguel Acquires Aussie packing Firm

San Miguel Corporation (SMC) announced that its subsidiary, San Miguel Yamamura Packaging International Limited (SMYPIL), has entered into a sale share and subscription agreement for the acquisition by SMYPIL of a majority stake in the Cospak Group. Based in Sydney, Australia, the Cospak Group is the largest packaging trading firm in Australasia. [...more]

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San Miguel To Buy Australasian Packaging Company

San Miguel To Buy Australasian Packaging Company

San Miguel Corp is poised to acquire a majority stake in Australasian packaging company Cospak Group as part of its expansion strategy in the region. The Philippine food and beverage giant announced the takeover, to be carried out through its subsidiary San Miguel Yamamura Packaging International Ltd (SMYPIL), should be finalised by February 2010. "SYMPIL hopes to make the Cospak Group the vehicle for its Australasian and rapidly growing export business," said San Miguel in a statement to the Philippine Stock Exchange. [...more]

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