It has been reported that San Miguel Corp. has agreed to acquire the entire holdings of tycoon Lucio Tan (51%) in flag carrier Philippine Airlines (PAL).
The deal is valued at $500 million. In April 2012, San Miguel paid $500 million for a 49% stake in PAL Holdings, which controls the airline.
San Miguel to acquire PAL stake
It has been reported that San Miguel Corp. has agreed to acquire the entire holdings of tycoon Lucio Tan (51%) in flag carrier Philippine Airlines (PAL).
The deal is valued at $500 million. In April 2012, San Miguel paid $500 million for a 49% stake in PAL Holdings, which controls the airline.