Bankers hit the bottle for Asia deal inspiration

Thai Beverage Public

05/07/2022 03:40

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Jennifer Hughes
    HONG KONG, July 5 (Reuters Breakingviews) - Thai Beverage is
spinning off its beers business in Singapore while the
Manila-based owner of Whyte & Mackay whisky plans a secondary
listing. Rising home consumption can be a comforting tipple amid
global uncertainty. Well-priced boozy deals could crack open the
wider market. 
       
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    CONTEXT NEWS
    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
(SGX) 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 ($216 million) deal, Refinitiv publication IFR
reported on June 24.
    Neither deal has yet officially launched nor published any
pricing.

 (Editing by Una Galani and Thomas Shum)
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