Reuters logo
San Miguel gets offer for Philippine Airlines stake
August 1, 2014 / 10:01 AM / 3 years ago

San Miguel gets offer for Philippine Airlines stake

MANILA, Aug 1 (Reuters) - San Miguel Corp, the Philippines’ most diversified conglomerate, has received a buyout proposal for its stake in Philippine Airlines from its partner, the Lucio Tan Group, which wants to regain control of the flag carrier, San Miguel’s president said on Friday.

“Talks are still ongoing,” San Miguel President Ramon Ang said.

San Miguel indirectly bought almost half of the flag carrier from billionaire Lucio Tan for $500 million in 2012, giving the conglomerate management control of Philippine Airlines and affiliate Air Philippines. (Reporting by Erik dela Cruz)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below