San Miguel Corp. (SMC) is consolidating its food and beverage businesses under unit San Miguel Pure Foods Co. via a share swap deal worth over P336 billion.
In a disclosure, the Ramon Ang-led conglomerate said it would be subscribing to 4.24 billion in new Pure Foods shares, to be paid for via the transfer of 7.86 billion shares in San Miguel Brewery, Inc. and 216.97 million shares in Ginebra San Miguel, Inc.
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