San Miguel Has $6.6 Billion Bids for Beer, Gin: Southeast Asia

Ramon Ang, the billionaire chief of San Miguel Corp., said he’s received about $6.6 billion of offers for stakes in its brewery and gin units that will be considered should it need cash for an energy acquisition.

Several bids of as much as $6 billion were made for 51 percent of San Miguel Brewery Inc., while Ginebra San Miguel Inc. has fetched proposals of $600 million, Ang said in an interview in Manila. The parent company is studying the purchase of an energy company with $10 billion in sales, he said, declining to identify it.