E-Malt.com News article: Philippines: San Miguel Brewery acquires PP6.8B worth of property

San Miguel Brewery Inc. has acquired from parent conglomerate San Miguel Corp. parcels of land on which all its beer-production facilities are located, Philippine Daily Inquirer informed on November 11th.

Total cost of the acquisition reached PP6.83 billion (155.5M US$).

The turnover was made through SMB’s purchase of a 40% stock in another San Miguel subsidiary, Beverage Properties Inc., which holds about 128 land titles.

The price was based on the assessed value of the land titles.

This is in line with SMB’s purchase from its parent company of all tangible and intangible assets related to its brewery.

Earlier completed was SMB’s purchase from San Miguel of Iconic Beverages Inc., the holding company for the Philippine beer and malt-based beverage trademarks, know-how and other intellectual rights concerning beer brewery.

SMB issued to the public P38.8 billion in peso-denominated bonds in April 2009 to finance these acquisitions.

San Miguel’s flagship beer unit has five breweries in the Philippines.

At present, SMB has a portfolio of 10 beer brands: Pale Pilsen, Red Horse, San Mig Light, Super Dry, Cerveza Negra, San Mig Strong Ice, Gold Eagle, San Miguel Premium All-Malt, Oktoberfest Brew and Cali.


12 November, 2010