	ariadne unit confirms bid for san miguel ariadne group unit barwon farmlands ltd confirmed it offered billion pesos in cash for the mln shares of philippine brewing company san miguel corp the australia based barwon pct owned by new zealander bruce judge s ariadne group said in a statement released in hong kong that a formal offer had been made to the philippines government which holds the shares it said it was confident the offer will be reviewed favourably newspapers in manila and hong kong reported at the weekend that an offer had been made barwon said it was represented by australian stockbroker jacksons ltd which forwarded a formal offer to philippine president corazon aquino of pesos for each of the mln a and b shares of san miguel the philippine government seized the shares which represent a pct stake in the brewery firm from the united coconut planters bank alleged by the government to be linked with the country s deposed president ferdinand marcos the barwon statement said a deal is expected to be concluded between barwon and the philippines government in days barwon also said it made recommendations to the government on how it could purchase the class a shares which can only be held by a philippine national or a firm which is at least pct held by a member of the country it did not elaborate the hong kong economical journal quoted a spokesman of jacksons as saying barwon plans to set up a branch in the philippines to meet the criteria san miguel brewery ltd a locally listed firm pct held by san miguel s neptunia corp affiliate was last traded at h k dlrs against dlrs on friday reuter 
