Deals
RFM, Seeking to Avert Default, May Sell Cosmos Stake
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As RFM Corp. marked its 40th anniversary, Jose Concepcion pledged the Philippines' second-largest food and drinks company would join Manila's leading stock index within two years.
That was in 1998. Today, the 43-year-old chief executive has more to worry about than a missed milestone. He needs $72 million to avert a debt default, prompting local speculation he will be forced to sell part of Cosmos Bottling Corp., which earned seven times more than its parent last year, to PepsiCo Inc.