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Our CPF money spent on Pinoy Liquor firm ...... pui pui....
An honorable member of the Coffee Shop Has Just Posted the Following:
GIC reportedly buying stake in Philippine liquor firm - Channel NewsAsia SINGAPORE: Singapore's GIC appears to be on a spending spree. According to reports, the sovereign wealth fund is buying an initial stake in Philippine liquor firm Emperador. Emperador is said to be planning to sell a 9.64 per cent stake to GIC for US$391 million (S$506 million). The deal comprises an equity investment of 12.32 billion pesos (S$0.35 billion) for 1.12 billion shares. This is equivalent to a 6.95 per cent direct equity stake in Emperador. The rest of the purchase is via equity-linked securities worth 5.28 billion pesos. Emperador is the world's biggest brandy maker. It had bought the world's No. 5 scotch whisky maker Whyte & Mackay in May. Earlier this week, GIC bought a 49 per cent stake in five shopping malls in New Zealand for close to US$800 million. - CNA/ms http://www.channelnewsasia.com/news/...g/1459788.html Click here to view the whole thread at www.sammyboy.com. |
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