| Arran Investment Pte. Ltd., an affiliate of Singapore sovereign wealth fund GIC Pte. Ltd., has completed its P22 billion investment in the Andrew Tan-led Emperador Inc.In a disclosure to the Philippine Stock Exchange (PSE), liquor firm Emperador said, “Arran Investment Private Limited, an affiliate of GIC Private Ltd., Singapore’s sovereign wealth fund, has completed today its initial investment in Emperador of P17.6 billion comprising the purchase of common shares and equity-linked securities convertible to common shares and an option to invest additional amount of P4.4 billion.”
Emperador said this was in line with its definitive agreement with the Singaporean wealth fund in November to capture certain interests in Emperador. The completed transaction has given Arran a total stake of 11.76 percent in Emperador, including the additional investment option...............................................Full Article: Source
|