San Miguel offers 49% of Pure Foods
Raymond Ang, president of Philippine conglomerate San Miguel Corp., has confirmed that the group will be selling 49% of its foods division Pure Foods, rather than the entire group, with an estimated value of $588 million.
The Carlyle Group and CVC Capital Partners have both moved to participate in the sale, but both have been pushing for 100% of the asset, rather than 49%, according to Philippine sources. San Miguel may...
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