SMC mulls buying Select stores from Shell

By Doris Dumlao
Philippine Daily Inquirer

MANILA, Philippines -- Diversifying food and beverage giant San Miguel Corp. wants to expand its retailing business with the potential acquisition of the convenience store chain "Select" of Pilipinas Shell.

San Miguel, which has an option to take over a controlling stake in the country's largest oil refiner Petron Corp., said in a disclosure to the Philippine Stock Exchange on Thursday that it was not interested in buying Pilipinas Shell itself.

However, San Miguel said it has been keen on Shell's convenience store chain Select.

"We advise that the company may have an interest in the Select Shops of Pilipinas Shell if the same are offered for sale," the disclosure said.

Click here for SMC PSE disclosure.