GIC invests $391m in Philippines liquor producer Emperador
GIC Private has agreed to pay PHP17.6 billion ($391 million) for a 9.64% stake in Emperador (EMP), a Philippines-based liquor producer. Its parent is Alliance Global, a conglomerate controlled by local businessman Andrew Tan.
This is the Singapore sovereign wealth fund's third direct investment in the Philippines this year, following commitments to Metro Pacific Investments' hospital business and canned tuna producer Century...
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