San Miguel: from beer to oil

San Miguel, purveyor of one of Southeast Asia's oldest and most popular beers, is not your typical food and beverage company. Over the past two years, the group has ventured outside its comfort zone of drinks, processed foods and packaging, to make acquisitions in power, mining and tollways. The resolve of Chief Executive Eduardo Cojuangco to diversify into heavy industry and infrastructure was further underscored on Thursday with the acquisition of Exxon Mobil's downstream business in Malaysia for US$610m.

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