San Miguel formalizes consolidation of food and beverage business

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San Miguel Corp has formalized its consolidation of its food businesses under San Miguel Food and Beverage Inc.

The conglomerate announced the signing of the Deed of Exchange of Shares, wherein SMC transferred to SMFB 7.859 billion common shares of liquor and beverage arm Ginebra San Miguel Inc for P336.35 billion. — Patrizia Paola C. Marcelo