Bits and Snippets of the Philippines

Basic Reading of Global Filipinos

San Miguel Corporation to Buy Shares of Esso Malaysia, Local ExxonMobil Companies

leave a comment »

San Miguel Corporation, today’s conglomerate in the Philippines, is planning to acquire 65 percent of Esso Malaysia or 175.5 million shares from ExxonMobil International Holdings, including two local ExxonMobil companies, for more than 600 million USD. This acquisition adds to the portfolio of oil refining and marketing businesses outside the Philippines that San Miguel owns or has shares with.

Esso Malaysia has about 560 retail stations in Malaysia. Currently, San Miguel also owns 68 percent of Petron Corporation, the largest oil refining company in the Philippines.

Read more at The Star Online

Photo by nafim at Flickr.com

_

Advertisements

Written by Raffy Pekson II

August 18, 2011 at 3:50 pm

Comments only. No ads, links or unrelated replies.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: