IF YOU think that San Miguel Corp. has a loaded pipeline of deals outside of its traditional food and beverage businesses, think again, because the predator is still on the prowl.
The diversifying conglomerate is now hatching five major acquisitions, one of which is worth “a few billion dollars.” San Miguel president Ramon S. Ang would not say which sectors they were in, but some of these are presumably in the energy industry. Before the year ends, Ang says San Miguel may be able to finalize a deal that will “shock” everyone as this involves a company already widely believed to have been taken over by someone else.
And RSA is not shy to sound off interest on enterprises, which he thinks are very promising, if and when they are for sale. If available, he would like to include in his shopping cart the likes of Philippine National Bank and Philippine Airlines. He has also sent feelers in the past to buy into Rustan’s, but the Tantocos wanted to keep the upscale retailing firm strictly a family affair.
The fruits of all of San Miguel’s diversification initiatives, Ang says, would be felt in a much bigger way two to three years down the road. Before the end of this year, for instance, San Miguel’s power businesses – now accounting for 3,000 megawatts in installed capacity – will be consolidated in its books, which mean that for the whole of 2010, there will be a big leap in group-wide revenues. Doris C. Dumlao
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