Philippines News Archives

Friday, March 09, 2001

AC ( 03/08/2001 : AFX )
San Miguel Corp said it and Ayala Corp have agreed on the indicative
terms for its acquisition of Ayala unit Pure Foods Corp. In a disclosure
to the stock exchange, San Miguel said talks are continuing as a
memorandum of understanding has not been signed. The company did
not elaborate on the terms that it has agreed upon with Ayala Corp.
San Miguel chairman Eduardo Cojuangco said on Tuesday that the
company's acquisition of a majority stake in Pure Foods was imminent.
- posted by StockMarket @ 12:45 AM

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