Alliance Global Group Inc., the listed holding company
of real estate tycoon Andrew Tan, said it is buying two other
stakeholder firms in it's majority-controlled TrillionStars Holdings
Inc. which will be renamed Emperador Distillers Inc. with a view to
backdoor listing of the liquor unit.
In a disclosure to the Philippine Stock Exchange on Monday, Alliance Global said it agreed to buy
Shiok Success International Ltd. and Dew Dreams International Ltd., which own a a combined 1,431,764,995 common shares in TrillionStars Holdings.
The acquisitions are expected to close on September 25.
"After the settlement of the offering and the completion of the acquisition of Shiok and Dew Dreams, the AGI Group will own approximately 87.55 percent of the total issued shares of TSI or Emperador Inc.," the disclosure read.
On Friday, Alliance Global priced at P8.98 apiece the 1.8-billion share offering of TrillionStars Holdings to raise P16.2 billion.
Last August 29, Alliance Global said it is subscribing to as much as 15 billion shares of TrillionStars Holdings, formerly Touch Solutions Inc., at par value, to be issued from a capital increase in TrillionStars Holdings – to 20 billion from 100 million.
Emperador Distillers said it was planning to double its sales volume in five years to corner a third of the global brandy market in five years. The company sold 31 million cases in 2012.
Emperador International Ltd., the global liquor arm of Alliance Global, is investing P5.8 billion in Spain over the next 12 months in line with a strategy to grow its brandy brand. Emperador International is now buying vineyards and other brandy producers that include distilling and bottling plants in Spain. – Danessa Rivera/VS,GMA News
Source: Yahoo! Philippines
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