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Byline: Neil Jerome C. Morales
Diversified conglomerate San Miguel Corp. has taken a majority stake in the firm holding the P2.5-billion contract to modernize and expand the airport near the tourist getaway of Boracay.
"The company, through its wholly owned subsidiary San Miguel Holdings Corp., executed a share sale purchase agreement with the consortium of Messrs. George T. Yang, Rafael P. Puno, Lino A. Barte, and RPRP Ventures Management and Development Corp.," San Miguel told the local bourse yesterday.
It did not disclose how many shares were bought as well as the purchase price.
Under the deal, "San Miguel Holdings shall acquire, initially, a …