The due diligence audit on Philippine soft-drink manufacturer Cosmos Bottling Corp. by food and beverage conglomerate San Miguel Corp. has been completed, Cosmos parent RFM Corp. said in a recent disc…
The due diligence audit on Philippine soft-drink manufacturer Cosmos Bottling Corp. by food and beverage conglomerate San Miguel Corp. has been completed, Cosmos parent RFM Corp. said in a recent disclosure to the stock exchange. San Miguel, along with Coca-Cola Co., began the due diligence audit soon after they signed a memorandum of understanding with RFM in August for the sale of the latter“s 83.2% stake in Cosmos. The sale was valued at PHP 15 billion, which would put the price tag on RFM“s stake at PHP 12.5 billion. San Miguel“s purchase of Cosmos will be done through its unit Coca-Cola Bottlers Philippines Inc. (CCBPI), and Coca Cola. San Miguel owns 65% of CCBPI and Coca-Cola 35%.