| In a disclosure to the Philippine Stock Exchange, the listed brandy maker owned by billionaire Andrew Tan said Arran Investment Private Limited "completed today its initial investment in Emperador Inc 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."
Arran Investment is an affiliate of GIC, Singapore's sovereign wealth fund. GIC will own up to 11.76 percent of Emperador if the equity-lined shares are converted into common shares and if the fund exercises its option to buy more shares in the Philippine firm. Emperador had said GIC's investment will strengthen its capital position to enhance its leading industry position and expand its business in both local and global markets...............................................Full Article: Source
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