MANILA, Philippines - Diversified conglomerate San Miguel Corp. said on Friday it had short listed 2 buyers for a minority stake in subsidiary San Miguel Pure Foods Co. Inc., out of a list of 5 bidders.
Ramon Ang, San Miguel president and director of Pure Foods, said in a statement the 3 bidders would conduct further due diligence prior to final negotiations.
San Miguel has said it was selling 49% of the food firm but there had been some speculation it would sell its entire 99.9% holding.
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