Allen & Overy has advised Emperador Inc, a subsidiary of Alliance Global Group Inc., one of the largest Philippines conglomerates, on its acquisition of Whyte & Mackay Group from United Spirits Limited, a company listed on the Bombay Stock Exchange, for an enterprise value of approximately GBP430 million.
Emperador’s purchase of Whyte & Mackay ranks as one of the biggest overseas acquisitions by a Philippine company in recent years. The transaction was the result of a competitive auction process arising from a UK competition enquiry and subsequent ruling following Diageo PLC’s acquisition of a significant stake in United Spirits in 2013.
Whyte & Mackay is the 5th largest maker of Scotch whisky in the world, with a history of more than 160 years. The group has production capacity of 50 million litres of alcohol per annum with five distilleries and one bottling plant in Scotland and a global distribution platform through which it sells a wide range of products in more than 50 countries, mainly in Europe and North America.
The Philippines-based Emperador is one the world’s premier brandy makers and its newest acquisition will potentially lead to new opportunities for the company in the Philippines and in overseas markets.
Commenting on the deal, corporate and managing partner of the Singapore office, Chris Moore said: “We are delighted to have advised Emperador on this complex and tough acquisition. This transaction will provide Emperador with a great platform from which to promote their products worldwide and grow their business. A&O is honoured to play a role as trusted legal adviser in the expansion of their business.”
Partner Chris Moore and senior associate Alun Roberts led the Singapore based Allen & Overy team with support from associates Nicole Rondy and Michelle Ho. Additional support was provided by the firm’s competition, tax and pensions teams in London.
Source: www.allenovery.com
