Two bidders remain for San Miguel
Suitor number declines for minority stake
Two bidders remain for a minority stake in Pure Foods, San Miguel Corp.’s poultry and hot dog division. A Bloomberg report said as many as five companies were in the running for minority ownership of the largest food and drinks maker in the Philippines.
According to company President Ramon Ang, San Miguel will continue negotiations for the unit valued at $1.8 billion with the two remaining unnamed bidders.