West LB, the investment bank which holds a 40% stake in Whyte and Mackay, has suggested that it wishes to sell off its stake in the whisky producer.
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According to a report in the Scotsman, West LB has said it wants to sell off the investment “in the medium term”, along with the rest of its principle finance unit.
CEO of Whyte and Mackay – which was known until last week as Kyndal – Vivian Imerman apparently holds the rights to first refusal on any sale of West LB’s stake. Imerman already holds a 50% stake.
Whyte and Mackay said: “Vivian Imerman has no intention of selling the business. Should WestLB look to sell its shareholding he has expressed an interest in acquiring these shares, depending on the conditions attached.” No further details of timing were forthcoming from West LB. However it is thought a review of its portfolio of interest could take over a year and a half.
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