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Article: Philippines: San Miguel buys out packaging partners.

Article from:
TendersInfo
Article date:
April 2, 2009
Copyright

Byline: manish03

DIVERSIFYING FOOD and beverage giant San Miguel Corp. has bought out its partners in two packaging units, taking over San Miguel Rengo Packaging Corp. and Mindanao Corrugated Fibreboard, Inc.

In a disclosure to the Philippine Stock Exchange, San Miguel said it had signed a share sale and purchase agreement with Rengo Co., Ltd. for the Japanese company s stake in San Miguel Rengo Packaging and Mindanao Corrugated for P250 million.

It was unclear how much Rengo had held in both units but a source said the purchase would effectively increase San Miguel s ownership in San Miguel Rengo Packaging to 100%.

San Miguel has also ...

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