Emperador suspended from trading after $729-M deal
MANILA - 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.