MANILA, Philippines--Kirin Brewery of Japan has completed its divestment of a 19.9- percent stake in San Miguel Corp. by selling it to a group led by businessman Roberto Ongpin for about P40 billion.
Some 314 million SMC B shares -- open to foreign investors -- were crossed at the Philippine Stock Exchange at a price of P63 per share on Friday, stock market sources said.
Kirin earlier made a deal to sell its stake in SMC to Q-Tech Alliance Holdings Inc.
Among the local incorporators of Q-Tech are Ongpin and Petron Corp. president Eric Recto.
Also among the investors are Mirzan Mahathir, chairman of Crescent Capital Bhd. and eldest son of former Malaysian Prime Minister Mahathir Mohamad. - http://business.inquirer.net/
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