Friday, June 1, 2007

SMC retirement fund raises stake in company

San Miguel retirement fund raises stake in company

SMC Retirement Plan, the retirement fund owned by employees of San Miguel Corp., has recently acquired an additional 56.68 million common class B shares in San Miguel, raising its stake in the food and beverage firm to 320.45 million shares, or about 10.16 percent of the company's outstanding shares, San Miguel said.

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