Philippine billionaire Lucio Tan has been approached by a group of investors to sell his control of PAL Holdings Inc. and Philippine Airlines Inc. as he prepares to exit the aviation business after two decades.
Robinsons Retail Holdings Inc., the largest Philippine initial public offering, retreated in its Manila debut amid concern the devastation from Super Typhoon Haiyan will weigh on Southeast Asia’s fastest-growing economy.
Puregold Price Club Inc., the second- largest Philippine operator of grocery stores and hypermarkets, said will probably meet its profit goal this year after luring more shoppers. The stock rose the most in a month.
Ramon Ang, the billionaire chief of San Miguel Corp., said he’s received about $6.6 billion of offers for stakes in its brewery and gin units that will be considered should it need cash for an energy acquisition.