By Zinnia B. Dela Peña
The Philippine Star 02/19/2007
Industrialist Andrew Tan is consolidating all his interests in real estate development, food and beverage, and the fastfood service industry, under Alliance Global Group Inc. (AGI) as he seeks to build a solid platform for continuous growth.
In a statement, Tan said AGI will become his holding company with the infusion of assets worth P20 billion.
Given his track record in innovation and his ability to excel amid competition, Tan, who was appointed as chairman of AGI in September, is hoping to take AGI to new heights.
“AGI will serve as a primary vehicle to expand his existing businesses and to look into various opportunities for growth,” Tan said.
Just last Friday, AGI’s board approved two transactions allowing the holding firm to acquire 100 percent of Emperador Distillers Inc. for P3 billion and a 25-percent stake (representing 5.25 billion shares) in upscale property developer Megaworld Inc. for about P17 billion in exchange for 4.06 billion common shares of AGI to be taken from the latter’s unissued shares.
Both Emperador Distillers and Megaworld are owned by Tan.
With this transaction, AGI’s stake in Megaworld will increase to 46 percent from the existing 21 percent held by subsidiary Newtown Land Partners.
As a new conglomerate, AGI will embark on aggressive property development through Megaworld, a leader in the property market’s two fastest-growing segments: middle-income housing and business process outsourcing office.
AGI’s food and beverage business, on the other hand, will be expanded through Emperador Distillers Inc., the country’s third largest liquor firm. Among Emperador’s products include Club Valentino Rhum, Collector’s Premium Whisky, Andy Player Special Whisky, and Emperador Brandy.
AGI is also the exclusive distributor of Campbell Soup Co.’s products and E&J Gallo Winery Inc. wines in the
Meanwhile, AGI’s quick service restaurant operations will be boosted by McDonald’s, which expects to double its branch network to 500 in the next five years.
Golden Arches Development Corp, the master franchise holder of McDonald’s in the
“AGI has ensured a strong momentum for growth with the dominant position of Megaworld and Emperador Distillers in their respective industries and McDonald’s reputation as a strong global brand. AGI is also looking into new areas where growth is sustainable,” Tan said.
In view of the planned share purchase, the Philippine Stock Exchange shall suspend trading in shares of AGI beginning today pending compliance with certain requirements.
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