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Business

Philippines' San Miguel bundles food, beer, liquor units in $6.6bn deal

Shares of the holding entity surged 50% after announcement

San Miguel Flavored Beer, a product of San Miguel Brewery, are on sale at a supermarket in Manila.   © Reuters
CLIFF VENZON, Nikkei staff writer | Philippines

MANILA -- Philippine conglomerate San Miguel on Monday said it would combine its food, beer and liquor units into a single entity under a 336.35 billion pesos ($6.55 billion) share-swap transaction.

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