The wait is over. San Miguel Corporation and Philippine Airlines have to come an investment agreement. According to a disclosure filed at the Philippine Stock Exchange on Wednesday, April 4 , the agreement was inked in the afternoon of April 3 following delays after PAL owner Lucio Tan asked for more time to study the offer. There was no mention of how much the deal was worth or how much of PAL would be owned by SMC. Previous reports indicated that San Miguel would acquire anywhere between 46% to 49% of the PAL for about $500-M.
Find out what more is at stake on Rappler.