Diversified conglomerate San Miguel Corp. has completed its acquisition of additional stakes in its two carton manufacturing businesses, giving it full control over the units.

San Miguel has bought Japan-based Rengo Co. Ltd.'s 30 percent interest in San Miguel Rengo Packaging Corp. and 20 percent in Mindanao Corrugated Fibreboard Inc. (Mincorr) for P250 million.

It also purchased Macondray Fibreboard Corp.'s 6.7 percent stake in Mincorr for P27.1 million.

With the completion of the transactions, San Miguel now plans to consolidate the carton businesses under its packaging division.

San Miguel's packaging group services many of the food, pharmaceutical, chemical, beverages and personal care manufacturers in Asia-Pacific, Middle East, Africa and US. It produces a wide range of products such as glass bottles, corrugated cartons, paperboard, paper pallets, plastic crates and pallets.