Deals
San Miguel Taps Banks for Biggest Philippine Share Sale
- Conglomerate asks banks to pitch for role on Pure Foods deal
- Share sale could raise around $1.5 billion this year
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San Miguel Corp., the biggest Philippine company by revenue, has asked investment banks to pitch for a role in a planned sale of shares in its listed food business this year, people with knowledge of the matter said.
The conglomerate is expected to appoint advisers as soon as the end of this month, according to the people, who asked not to be identified because the information is private. The offering of San Miguel Pure Foods Co. stock could raise around $1.5 billion, though the exact size is still under discussion, the people said.