San Miguel ‘Still Interested’ in Purchasing Piece of Bumi
March 16, 2010
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San Miguel, the largest food and beverage company in the Philippines, said it was “still interested” in buying a stake in PT Bumi Resources, Asia’s largest exporter of power-station coal.
“We are still interested, should there be an opportunity,” San Miguel president Ramon Ang said on Tuesday, although he declined to offer more details.
San Miguel said in November 2008 that it wanted to buy at least 51 percent of Bumi after the coal miner’s parent, PT Bakrie & Brothers, agreed to sell its stake to Northstar Equity Partners for $1.3 billion to repay debt.
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