Thursday, May 24, 2018
  • share this

Emperador infusion into TSI for P13.5B set

/ 08:42 PM September 09, 2013

The group of tycoon Andrew Tan is set to infuse 100 percent of liquor unit Emperador Distillers Inc. into backdoor-listing vehicle Touch Solutions Inc. for a total consideration of P13.5 billion.

TSI has also sought to extend its trading suspension at the Philippine Stock Exchange to give the public more time to review the comprehensive disclosure regarding the infusion of EDI into the former information technology company, which will soon be renamed Emperador Inc.

The PSE agreed to lift the trading suspension on TSI on Sept. 17.


Tan-led Alliance Global Group Inc. earlier struck an agreement to subscribe to up to 15 billion shares of TSI.

AGI has now subscribed to 13.5 billion common shares of TSI for a total value of P13.5 billion, which in turn the latter will use to finance the acquisition of 100 percent of EDI’s outstanding stock for a total consideration of P13.5 billion.

In its disclosure, TSI said the shares to be issued to AGI would be applied for listing with the PSE “as soon as practicable.” The deal will likewise reduce TSI’s public ownership to 0.2 percent from 34.93 percent, which means Emperador will have to place out shares to meet the minimum requirement of 10 percent public float for continuing public listing.

EDI is an integrated manufacturer, distributor, and bottler of alcoholic beverages with production facilities in Laguna, Philippines.

It was incorporated in 2003 and later on acquired the brandy manufacturing assets and related brands, namely, “Emperador” and “Generoso.” AGI acquired 100 percent of the common shares in EDI in 2007.

In 2009, EDI introduced “The Bar,” a flavored vodka and gin beverage. In April this year, EDI introduced Emperador Deluxe Spanish Edition, a premium brandy imported from Spain that is created specifically to appeal to the Philippine palate.

Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: backdoor listing, Business, emperador distillers inc., infusion, liquor industry
For feedback, complaints, or inquiries, contact us.

© Copyright 1997-2018 | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.