(Bloomberg Businessweek) -- Ten years ago, San Miguel was primarily a food and beer conglomerate. (It’s named after its original 1890 brewery, opened when the Philippines was still a Spanish colony.) Ramon Ang, who’s run the company since 2002, has expanded into the electricity, oil, and construction industries. San Miguel still makes plenty of beer, but the $2.15 billion purchase for 86% of Holcim likely allows it to capitalize on President Rodrigo Duterte’s pledge to spend $170 billion on infrastructure. San Miguel is building a light-rail system and will soon break ground on the airport in Bulacan province, not far from the capital. It will have three times the capacity of Manila’s current one, which is 71 years old and regularly ranks among the world’s worst.
To contact the author of this story: Cecilia Yap in Makati at cyap19@bloomberg.net
To contact the editor responsible for this story: Claire Suddath at csuddath@bloomberg.net, Max Chafkin
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