San Miguel raises $400 million from Meralco stake sale

The deal accounts for less than 20% of the San Miguel group’s entire stake and is priced at a 10.7% discount.

Anette Jönsson

July 19, 2013

San Miguel Corp last night sold a 5.7% stake in Manila Electric Co (Meralco) through a block trade, raising Ps17.37 billion ($400 million).

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