San Miguel Corp., the largest Philippine cooking and drinks company, may raise US$800 million to expand and repay debt by selling breweries in China and Vietnam and shares in a packaging business.

Chairman Eduardo Cojuangco has been selling assets to raise funds to finance expansion into faster-growing industries such as energy and mining. Disposals announced this year will add 97.7 billion pesos ($2 billion) to the $4 billion amassed from offloading businesses including Australia’s National Foods Ltd. and the Philippine bottler of Coca-Cola.

The international beer business will be sold to unit San Miguel Brewery Inc. for between $600 million and $700 million, Ang told reporters Wednesday. San Miguel’s international beer venture is composed of six breweries in China, Indonesia, Thailand and Vietnam.

Source: Bloomberg