It's official: San Miguel buys into PAL

**marg** · February 10th, 2012 05:16 PM

Originally Posted by valskie01

what do u mean?
diba part owner or majority stockholder siya ng PLDT, smart, etc.

MVP is a PUPPET of Salim. Bawal ang foreigners to own Utilities such as PLDT, Smart, NLEX, Meralco etc.

National security issue yan.

**uls** · April 4th, 2012 05:27 PM

San Miguel Equity Investments Inc. buys into Trustmark Holdings and Zuma Holdings

Trustmark and Zuma are holding companies that own PAL and Airphil

**Ry_Tower** · April 4th, 2012 05:29 PM

^ next battleground pala ni MVP at Ramon Ang ang control ng PAL...

**uls** · April 4th, 2012 05:35 PM

mapupunta na sa SMC ang PAL

**Ry_Tower** · April 4th, 2012 05:52 PM

Lucio Tan, SMC ink PAL buy-in deal | Inquirer Business
Oo nga. Magkaroon din kay team sa PBA ang PAL or Airphil thru trustmark hehe

Ano kaya magandang name? PAL Flyers... PAL Bombers....

**robot.sonic** · April 4th, 2012 06:04 PM

PAL Pack daw.

**Ry_Tower** · April 4th, 2012 06:16 PM

Originally Posted by robot.sonic

PAL Pack daw.

Too short yan paps.... :hysterical:

**Monseratto** · April 4th, 2012 06:40 PM

Makaka request na ako ng San Mig Beer sa FA?

I guess MVP lost the bidding war...

(UPDATE as of 12:16 p.m.) MANILA, Philippines - Philippine Airlines said Wednesday it had sold a minority stake in the loss-making carrier to San Miguel Corp, one of the country's biggest conglomerates, but both sides refused to disclose details.

San Miguel, best-known for its beer but which has diversified into a wide range of business sectors in recent years, will also take a minority stake in PAL's low-cost airline, Air Phil, as part of the deal, a joint statement said.

The statement said San Miguel "welcomes the opportunity to participate in the refleeting and modernisation plans of the two airlines".

PAL spokeswoman Cielo Villaluna said the deal was signed between PAL's billionaire chairman, Lucio Tan, and San Miguel's president, Ramon Ang, late Tuesday.

But the joint statement, as well as Villaluna, did not reveal further details, such as the size of the stake or the amount of money involved. "That is all we are willing to say at the moment," Villaluna said.

The announcement came a day after a local press report quoted San Miguel insiders as saying it planned to invest $500 million to buy a 49 percent stake in PAL, Asia's oldest commercial airline.

The stake would have given San Miguel control of PAL, according to the report. PAL reported a net loss of $33.5 million in the three months ending December, reversing a profit of $15.1 million the previous year.

It had said the losses were mainly due to soaring fuel costs and made known it was looking for fresh money to upgrade its fleet, which has lost its status as the nation's most popular carrier to low-cost rival Cebu Pacific.