San Miguel To Buy Back $800M Shares

San Miguel Corp. is seeking to redeem its traded shares that may cost about $800 million, Bloomberg reports. The food and beverage company listed in the Philippines is expanding into oil refining, power retailing and infrastructure.

The company is also in talks to acquire an overseas company with an enterprise value of $10 billion. San Miguel units, including Petron Corp., the country’s biggest refiner, and San Miguel Brewery may remain listed.

Click here for the story from Bloomberg.