Fund raising? SMC sells brand names for P32B

San Miguel Corp., yesterday reported it is selling its intellectual property rights to all San Miguel beer brands, including technology in beer manufacturing to its listed unit San Miguel Brewery, Inc. for P32 billion.

Included in the sale is the land used for brewery operations, for an additional P6.8 billion.

Analysts said the sale of brands is part of San Miguel’s cash raising activities to finance its expansion into non-core areas like oil refining and distribution and power distribution.

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