MANILA, Philippines -- The Department of Finance confirmed Monday that the London-based Ashmore Group had paid P25.7 billion for the purchase of the government's 40-percent stake in Petron Corp.
The payment was made before the holidays in December, said Finance undersecretary and National Treasurer Roberto Tan.
He said the sale would help keep the budget deficit for 2008 within P75 billion.
The actual budget deficit for 2008 will be announced in January. By Michelle Remo, Philippine Daily Inquirer
