PHILIPPINES/INDIA: Emperador confirms talks over Whyte & Mackay buy
Diageo has offered to sell the "bulk" of Whyte & Mackay
In a filing this week, the Philippines-based group said: “We confirm that Emperador Inc is in ongoing discussions with United Spirits (Great Britain) Ltd, regarding Emperador’s interest in purchasing the Whyte and Mackay spirits business in the UK.”
The filing added: “No agreement has yet been reached in this regard and Emperador is constantly on the look-out for opportunities to expand its liquor business both domestically and globally.”
The statement to the Philippines Stock Exchange, made by the Alliance Global Group Inc subsidiary, was in response to media reports that it had begun talks over acquiring the Scotch whisky producer. The deal is reportedly worth around US$675m.
Whyte & Mackay is effectively controlled by Diageo, as the UK drinks firm is the largest shareholder in its parent company, India's United Spirits, and is moving to take majority control.
Diageo has offered to sell the “bulk” of Whyte & Mackay's assets to satisfy competitons concerns in the UK over its control of the Scotch whisky market.
The UK's Competition & Markets Authority has been running a consultation on the offer. Earlier this week, a spokesperson at the body declined to say when the outcome of the consultation will be published.
Numerous other companies are reportedly interested in Whyte & Mackay, including Lion Capital, KKR, Gruppo Campari and ThaiBev.
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