San Miguel in talks to invest in Solar Entertainment


Posted at Oct 31 2012 03:29 PM | Updated as of Nov 01 2012 01:06 AM

MANILA, Philippines - Diversified conglomerate San Miguel Corp. on Thursday confirmed it is in talks with Solar Entertainment Corp. for a possible investment in the media company.

"We confirm that the Company is in talks with Mr. Wilson Y. Tieng and Solar Entertainment Corp. ... An appropriate disclosure shall be made in the event a definitive agreement is concluded by the parties," the Ramon S. Ang-led firm said in a disclosure.

The comment was made after reports quoted Solar Entertainment President Tieng saying that Ang has expressed interest to invest in Solar Entertainment.

Tieng was further quoted saying terms are still being threshed out by the parties involved.