Manila, Oct 29 - Southeast Asia's largest food and beverage conglomerate San Miguel Corp is seeking to buy a majority stake in oil refiner Petron Corp , San Miguel President Ramon Ang said on Wednesday.
San Miguel is currently in talks with UK investment manager Ashmore Group , which said earlier on Wednesday it intends to raise its current stake of slightly over 50 percent to 90 percent in Petron by buying a block of shares the government is selling.
"Yes, we want to invest more than 50 percent," Ang said in a text message to Reuters when asked how much stake San Miguel is seeking in Petron.