The beer-and-beverage conglomerate San Miguel Corp. says it will acquire 49 percent of Top Frontier Holdings to secure control of the investment holding firm, which is emerging as San Miguel’s biggest stockholder.
The transaction tightens the ties between San Miguel’s management team and a group of friendly investors who are taking an increasing role in the Philippines-based food-and-beverage conglomerate.
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(Source: The Wall Street Journal Online)