Philippines-based conglomerate San Miguel Corp. reportedly expects to name who will acquire a 49% stake in its Pure Foods business.

San Miguel president Ramon Ang told reporters that the company would know the name of the buyer “within the week, Thursday, Friday”, Reuters said today (12 July). “It’s up to JP Morgan Chase,” Ang said, citing the bank advising the sale.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The conglomerate is looking to move away from food and drink and sees the sale of a stake in Pure Foods as a way of providing it funds with expansion.

Private-equity firm Carlyle Group, CVC and Philippine food maker Universal Robina Corp. have been named as bidders, although Ang declined to comment, Reuters said.

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now