San Miguel to invest in Skyway, nickel mining

Posted at 12/13/12 2:54 PM

MANILA, Philippines - Diversified conglomerate San Miguel Corp. is set to invest in the Skyway project, the South Luzon Arterial Road (STAR) Tollway and the Nonoc nickel mining project in Surigao del Norte.

The move was approved by the board of directors of the company, San Miguel said in a disclosure Thursday.

But as the investments have yet to take place, the firm stressed it will make "appropriate disclosures upon completion of the foregoing transactions."

Meanwhile, San Miguel declared a cash dividend of P0.35 per common share, payable to stockholders on record as of January 4, 2013.

Shareholders will be paid on January 30 next year, the firm said in the same disclosure.

San Miguel has diversified into power and generation and distribution, oil refining, mining, telecoms and infrastructure over the past four years from being a food and beverage firm.

Recently, it also bought a stake in flag carrier Philippine Airlines and its sister carrier Air Philippines Corp.