Business Deals
Lucio Tan-led Macroasia starts Palawan mine rehab project
MANILA, Philippines - Macroasia Corp., a listed aviation support company led by tycoon Lucio Tan, has started predevelopment activities in line with a plan to revive a nickel mine in Southern Palawan.
GSIS, Megaworld ink P3.5-B deal for condo projects in CCP
CEBU CITY -- State-run Government Service Insurance System (GSIS) has formed a joint venture with Andrew L. Tan-led Megaworld Corp. for a P3.5-billion residential project in Pasay.
Shareholders OK San Miguel diversification plans
MANILA, Philippines - San Miguel Corp. shareholders on Monday gave their backing to the conglomerate’s diversification plans, among them proposals to sell down over 51% of its core businesses and the declassification of its shares.
Ang, Ongpin: Raising the stakes
MANILA, Philippines - At the sidelines of PhilWeb Corp.'s annual stockholders meeting on Thursday, former trade minister Roberto Ongpin and San Miguel Corp. President Ramon Ang talked to ABS-CBN News' Ricky Carandang about how they plan to grow their businesses together.
Lopezes to keep 6.6% stake in Meralco
MANILA, Philippines - The Lopezes will keep their remaining 6.6% stake in Manila Electric Co. (Meralco), as they expect the country’s largest power distribution utility to become more valuable in the future.
San Miguel acquiring a 51% stake in MRT-7 consortium
MANILA, Philippines - Diversified conglomerate San Miguel Corp. (SMC) is acquiring 51% of the consortium tasked to build the Metro Rail Transit Line 7 or MRT7.
Mediaquest still in talks to buy Star; ‘organic convergence’ eyed
MANILA, Philippines - Business Manuel V. Pangilinan said on Monday that talks to acquire a majority of the Philippine Star daily newspaper are still going on despite his group’s aggressive push for a newly acquired television outfit.
San Miguel prepares to merge alcohol units
MANILA, Philippines - Diversifying conglomerate San Miguel Corp. is preparing plans to consolidate its hard liquor unit with the main brewing arm, the firm’s top executive said Tuesday.