Make the courts solve the mess
Kirin Brewery Company, Japan’s second largest brewer, has been furthering its overseas expansion with a $540 million offer for a 15% stake in Philippine San Miguel Corp. Whether the acquisition goes through depends on the outcome of a court dispute between San Miguel and the Philippine government, which holds in trust a 47% stake in the company.
Currently, 20% is claimed by San Miguel Chairman Eduardo Cojuangco and 27% by coconut farmers and the Philippine Coconut Producers Federation, who claim the shares were illegally purchased using funds seized from coconut farmers during the rule of Ferdinand Marcos. According to media reports, the Philippine government insists that no compromise will be allowed. "No ... the issue remains in court so there is no compromise agreement there..
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