Keppel Philippines Holdings is offloading a huge stake in a local shipyard company.

A subsidiary of diversified Filipino company San Miguel Corp, which brews beer among other things, has snapped up the 72% stake in Keppel Cebu Shipyard Land for PHP 596.6m ($13.7).



The buyer is SMC Shipping and Lighterage, 70% owned by San Miguel, which provides cargo handling, warehousing and shipping services to the company.



Keppel