San Miguel Corp. is working with four banks to help it sell a $3.3-billion stake in the Manila Electric Co., the Philippines’s largest utility, said three people with knowledge of the matter. Citigroup Inc., Deutsche Bank AG, Standard Chartered Plc. and UBS AG are helping San Miguel explore how to divest the holding, the people said, asking not to be named as the appointments are private. Options include selling a portion to another company and the remainder to large institutional investors, they said.
Posted on: Sat, 08 Jun 2013 22:37:27 +0000
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