By Miguel R. Camus
San Miguel Corp. president Ramon Ang is expected to seal a deal to acquire a minority stake in television broadcast firm GMA Network Inc. by early September, or as soon as “essential” aspects of the transaction have been agreed upon, GMA chair and CEO Felipe Gozon said Thursday.
Conglomerate San Miguel Corp. chalked up a six-month net profit of P18.4 billion, a turnaround from the P2.4-billion loss in the same period last year, as its power and fuels businesses grew at a double-digit pace alongside the steady expansion of traditional food and beverage businesses.
By the staff
Taipan Lucio Tan might be keen on buying back San Miguel Corp.’s stake in Philippine Airlines (PAL), consolidating his group’s control over the flag carrier, but it appears the pool of local wealthy investors is drier than we thought.
By the staff
Lucio Tan’s eagerly anticipated buyback offer to San Miguel for the latter’s stake in Philippine Airlines was presented to the conglomerate’s head honcho Ramon Ang last Friday, as scheduled.
The group of tycoon Lucio Tan has submitted to San Miguel Corp. a formal proposal to buy back the latter’s 49-percent stake in Philippine Airlines (PAL) in a bid to consolidate control of the flag carrier.