02-21-2009, 07:55 AM
Kirin buys 43% of SMB for P59B
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Quote:Beverage and food group San Miguel Corp. signed Friday a deal to sell 43.25 percent of domestic beer unit San Miguel Brewery Inc. (SMB) to Japan’s second-largest brewer, Kirin Holdings Co. Ltd., which owns 20 percent San Miguel Corp., for P58.9 billion.
And while Kirin is buying into SMB, it is unloading its 20-percent stake in San Miguel Corp. to Q-Tech Alliance, a new fund put up by businessmen led by Roberto Ongpin and affiliated with British fund Ashmore for P39.6 billion.
Cue in "I think I'm Turning Japanese"
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