San Miguel eyes investment in BMW distributor

ABS-CBN News

Posted at Jul 07 2017 10:49 AM

MANILA - San Miguel Corp said it was in talks to invest in the company that imports, distributes and services BMW cars in the Philippines.

The conglomerate is negotiating with Palawan Governor Jose Alvarez and Asian Carmakers Corp for the potential investment, San Miguel chief finance officer Ferdinand Constantino told the stock exchange late Thursday.

Constantino confirmed newspaper reports quoting San Miguel president Ramon Ang, a known car enthusiast.

San Miguel shares were down 0.19 percent to P103.10 in early trading Friday.