Firm drops bid for San Miguel stake

In a manifestation before the Supreme Court, the Philippine Coconut Producers Federation, Inc. (Cocofed) said Top Frontier Investments Holdings, Inc., had withdrawn its offer for the 24% San Miguel stake, which the farmer’s group is disputing with the government.

It said Top Frontier sent a letter to Cocofed last January 27 declaring “adverse developments” — primarily the global downturn -had “transpired which effectively prevent us from proceeding with the transaction.”

Read Full Article

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>