Philstar.com
MANILA, Philippines – The liquor unit of tycoon Andrew L. Tan has committed to invest P5.8 billion in Spain as part of plans to become a significant global brand.
Emperador International Ltd., a member of conglomerate Alliance Global Group Inc. (AGI), will pour more funds in Spain over the next 12 months, the company said.
“Part of the P5.8 billion has already been invested through the Spain-based Bodega San Bruno S.A. and Grupo Emperador Spain S.A., which are both owned by Emperador,” said Jorge Domecq Bohórquez, managing director of Emperador International.
In January, the brandy firm said it would acquire 100 percent of Spanish brandy maker Bodega San Bruno, including the San Bruno trademark that has been registered since 1942. AGI earlier said the acquisition cost would not be more than P3 billion.