has agreed to buy up to 50.1% in local oil refiner Petron. The seller is London-based investment firm Ashmore Investment Management, which holds its Petron stake through subsidiary SEA Refinery Holdings BV. Financial terms were not disclosed but industry observers said the deal may be worth some US$660 million. State-owned Philippine National Oil Co…
PHILIPPINES: San Miguel to buy up more than half of oil refiner Petron
Posted on December 22, 2008 by EnergyAsia