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Buy-out bid for ATI grain depot
In-Depth01-Jul-08
Filipino food and beverage giant San Miguel Corp has launched a fresh bid to acquire Asian Terminals Inc’s 1996-built Mariveles Grains Terminal (MGT) for a lower price of Pesos1.6B (US$35.04M) in tandem with Toyota Tsusho Corp , the trading arm of the Japanese auto-maker and its affiliates.
San Miguel and ATI have been in intermittent talks on a deal since 2002, when the purchase price talked about was Pesos 2.15B (around US$47.09M at current rates). The former has been selling portions of its food and packaging segments, which could generate additional funds for the acquisition.
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This complete item is approximately 250 words in length, and appeared in the July/August 2008 issue of Bulk Materials International, on page 2. To access this issue download the PDF here.
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