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UCPB and Cocolife Interested in San Miguel Shares
« on: March 29, 2012, 08:53:43 PM »
by TJ Burgonio, PDI

Even United Coconut Planters Bank (UCPB) and United Coconut Planters Life Assurance Corp. (Cocolife) appear to be keen on “cashing in” on the 24-percent block of shares in San Miguel Corp. (SMC) that is awaiting final resolution in the Supreme Court.

Presidential Commission on Good Government (PCGG) Chairman Andres Bautista confirmed that UCPB and Cocolife had made a P15-billion “claim” on the SMC portfolio during last Friday’s dialogue with the coconut farmers, said Danilo Carranza, secretary general of Katarungan, a farmers’ federation.

Carranza wondered why UCPB and Cocolife wanted to dip into the block of shares when the court had already awarded this to the government for the benefit of the farmers.

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