Philippines' Emperador suspended from trading after $729 mln deal

MANILA Sun May 11, 2014 9:41pm EDT

MANILA May 12 (Reuters) - Shares of Philippine liquor manufacturer Emperador Inc were suspended from trading on Monday after it sealed a 430 million pound ($729 million) deal to buy the Whyte & Mackay whisky unit of India's United Spirits Ltd.

The Philippine Stock Exchange said it imposed the trading suspension pending Emperador's compliance with disclosure requirements. The deal is still subject to approval by regulators and stockholders.

Emperador said in a statement the deal was in line with its plans to expand its portfolio. (Reporting by Siegfrid Alegado; Editing by Paul Tait)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.