MANILA, Philippines?San Miguel Corp. continues its diversifying tack as it reports that it is close to sealing a deal to acquire the Mariveles Grains Terminal, a major gateway for bulk grains handling in Bataan.

Also, it has made an offer to buy out other minority shareholders in dormant Liberty Telecom Holdings Inc., which it plans to use as its vehicle for its foray into the highly competitive telecommunications business.

San Miguel president Ramon Ang told reporters Thursday that the conglomerate was keen on investing in Mariveles Grains, in partnership with trading giant Toyota Tsusho Corp.

The grains terminal is an important port for bulk grains and commodities handling.

He said the Mariveles investment may be finalized in a month?s time. He said lease and labor related issues in the Mariveles terminal would have to be settled before San Miguel and Toyota Tsusho?s entry.

San Miguel earlier agreed to acquire a stake in the Mariveles Grains Terminal from Asian Terminals Inc. for P1.6 billion. The investment is expected to be split into a 60-40-percent ownership in favor of San Miguel.

The conglomerate has been eyeing the Bataan port since 2003 to boost its logistics network, improve agribusiness operations and cut distribution costs.

The Toyota Tsusho Group is one of the biggest trading groups in the world. Its main business is to support Toyota Motor?s automobile business and other Toyota group firms. It is involved in sales of a broad range of products such as metals, machinery and electronics, automotive components, energy and chemicals, foodstuff and consumer products.

Ang also said yesterday that the food and beverage conglomerate was keen on pursuing its acquisition of another telco, Express Telecommunications Co. (Extelcom).

However, he said this had not been finalized yet because there were ?too many issues? to be resolved.

For now, he said, San Miguel would work on the business plan for Liberty Telecoms.

?We will not avoid a tender offer in Liberty,? Ang said. ?It?s not an issue. It?s just a small amount.?

This is in reaction to concerns from some stockbrokers that the recent buy-in structure approved by its board of directors may have been meant to circumvent a requirement to make a tender offer to minority shareholders.

Under local rules on tender offering, any group acquiring at least 35 percent of a publicly listed company must offer to buy out other minority shareholders for the same price per share.

The San Miguel board recently approved the purchase of approximately 32.7 percent of Liberty from existing stockholders for an estimated amount of P2.2 billion. It will also pursue the acquisition of the balance of the investment in coordination with its joint venture partner Qatar Telecom QSC (Q-Tel).

Qtel, the sole telecommunications provider in Qatar, has earlier acquired a 27.12-percent stake in LTHI through subsidiary wi-Tribe Asia Ltd.

San Miguel has been eyeing LTHI, which has been moribund since 2005, because of the unused frequencies in the congressional franchise of subsidiary Liberty Broadcasting.

As for Indonesia?s most valuable coal miner Adaro Energy, Ang said San Miguel was no longer in talks for the acquisition of a stake in the firm. He said the stake in Adaro earlier offered by American investment banking giant Goldman Sachs presented very little value for San Miguel.