Article: Philippines : San Miguel May Spend $2 Billion on Infrastructure.

Byline: pinto03

San Miguel Corp. may spend as much as $2 billion on acquisitions as the Philippines biggest food and drinks maker accelerates its transformation into a holding company with interests in industries such as energy and mining.

The maker of San Miguel Beer plans to invest maybe up to $2 billion in infrastructure projects and power plants, President Ramon Ang said in a Bloomberg TV interview. The Manila-based company that yesterday reported quarterly profit was boosted sixfold by asset sales plans to invest $350 million in a power plant, Ang told reporters today.

San Miguel has raised about 98 billion pesos ($2 billion) this year ...

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