San Miguel board approves Cosmos purchase

Philippines-based food giant San Miguel Corporation has said that its board of directors had approved the proposed purchase of 83% stake in the Cosmos Bottling Corporation in cooperation with the Coca…

Philippines-based food giant San Miguel Corporation has said that its board of directors had approved the proposed purchase of 83% stake in the Cosmos Bottling Corporation in cooperation with the Coca-Cola Company. The board valued the purchase, from RFM Corporation, a maximum enterprise value of PHP 14 billion, San Miguel said in a statement to the Philippines Stock Exchange.