PHILIPPINES: San Miguel mulls proposals to invest in online catering B2B venture

Filipino food and beverage giant San Miguel Corp is believed to be mulling the possibility of an investment in Catering Exchange, the online B2B venture controlled by the family of tycoon Lucio Tan. Speculation was raised on Wednesday (27 September) when Tan told the national newspaper, the Philippine Daily Inquirer, that Manila-based San Miguel was interested in becoming an active investor.In a disclosure to the stock exchange however, San Miguel, one of the largest companies in the Philippines, was more reticent, stressing that: "The company is still in the process of evaluating an offer to join Catering Exchange Inc. and SourcePilipinas.Com as client or investor. No agreement has been reached."