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Byline: Elizabeth Sanchez-Lacson and Abigail L. Ho
SAN MIGUEL CORP. SAID YESTERDAY IT WAS IN the final stages of negotiations with British investment fund Ashmore Group for an option to buy up to 50.1 percent of the latters stake in oil giant Petron Corp., San Miguel chief finance officer Ferdinand Constantino said in a disclosure yesterday.
Inquirer sources confirmed on Monday that San Miguel had bought a 10-percent direct stake in Petron from SEA Refinery Corp., the local entity owned by the Ashmore Group.
Another block of shares of Petron were sold yesterday amounting to 3.75 billion shares or roughly 40 percent of Petron at P6.85 a share, or for …