San Miguel To Purchase Stocks in Petron
Posted on January 7th, 2009
San Miguel reportedly said that they will purchase the 50.1 percent shares of Ashmore Group in Petron Corporation. The UK group and San Miguel made an “option agreement†that gives both of them the right but not the obligation to sell or obtain an asset at an agreed price in some time in the future.
San Miguel is diversifying its business scope to some other ventures aside from its food and drinks marketing. “This is good because they might find it hard to grow the company even more if they will focus on the beer market. The growth of the beer market is no longer as fast as it used to be. The companies that San Miguel are entering are also established companies already,†as what the president of Eagle Equities, Inc., Mr. Joseph Roxas explained. According to him, san Miguel’s plan is a good strategy.
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