GIC affiliate completes $519m investment in liquor company Emperador
It has an option to invest another $130m.
Arran Investment, an affiliate of sovereign wealth fund GIC, has completed its initial investment of $519m (PHP17.6b) into Emperador, a liquor company listed in the Philippines.
The investment is made up of common shares and equity linked securities convertible to common shares.
On a disclosure to the Philippine Stock Exchange, Emperador stated that Arran Investment has an option to invest an additional amount of $130m (PHP4.4b) into the company.