San Miguel Corporation (SMC), a food, beverage and packaging company, has agreed to sell Vega Telecom, its telecommunication business, to Philippine Long Distance Telephone Company (PLDT) and Globe Telecom.

The acquisition, worth PHP69.1bn ($1.47bn), includes PHP52.08bn ($1.11bn) for 100% equity interest in Vega Telecom. The remaining amount of PHP17.02bn ($0.36m) will be assumed by both Philippine Long Distance Telephone Company (PLDT) and Globe Telecom in liabilities.

As per the transaction, both Philippine Long Distance Telephone Company (PLDT) and Globe Telecom will acquire a 50% stake each in the company.

"Both Philippine Long Distance Telephone Company (PLDT) and Globe Telecom will acquire a 50% stake each in the company."

Windy Hill Spirits‘ American Born Moonshine brand has been acquired by Milestone Brands, a Texas-based premium spirits company.

Under the terms of the acquisition, Windy Hill Spirits will continue to assist with American Born Moonshine, while the field sales team of the company will be retained by Milestone Brands.

Lion New Zealand (Lion NZ) will acquire Upper hut brewery Panhead Custom Ales in a deal that will see Panhead Custom Ales operating independently.

The acquisition is expected to be in effect from next month with the founder of Panhead Custom Ales continuing as the chief brewer.

Speight’s, Steinlager, Mac’s, Emerson’s, Stella Artois, and Corona are some of the famous beers from Lion NZ. The beers produced by Panhead Custom Ales include Supercharger APA, Port Road Pilsener, Quickchange XPA, and Blacktop Oats Stout.