MANILA -- Philippine conglomerate San Miguel will acquire Eagle Cement, also of the Philippines, for 97.4 billion pesos ($1.6 billion) in a move aimed at strengthening its infrastructure businesses, the company said on Tuesday.
Business deals
Philippines' San Miguel to acquire major cement maker for $1.6bn
Acquisition will help conglomerate strengthen its infrastructure businesses
San Miguel will acquire 88.5% of Eagle Cement shares, offering about 22 pesos for each. (Photo by Yuichi Shiga)
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