From Breakingviews - Bankers hit the bottle for Asia deal inspiration
A return to focusing on domestic consumption in emerging Asia could help steady the nerves of investors shaken by the rout this year in technology. An Indian peer, Allied Blenders and Distillers, maker of Officer’s Choice Whisky, is
eyeing a $250 million float in Mumbai. Mix in a dash of recovery optimism as countries reopen for travel and there might be plenty to toast.Singapore-listed Thai Beverage has held discussions with investors about its plans to spin out its brewing business, a person familiar with the situation confirmed to Reuters Breakingviews. The $12 billion spirits and beers group won approval earlier in the month from the Singapore Stock Exchange for the float.
Separately, SGX on June 20 approved plans from Manila-based Emperador to list its shares by introduction, a way to create a secondary listing without issuing new stock. The $5.3 billion owner of spirits including Whyte & Mackay, Fundador brandy and Harveys sherry has held discussions with investors about the S$300 million deal, Refinitiv publication IFR reported on June 24.Register now for FREE unlimited access to Reuters.
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