Tan Buys P1-B Emperador Shares From Market in 3 Days

The Andresons Group Inc. of tycoon Andrew Tan continues to shop from the market shares of listed global brandy and whisky conglomerate Emperador Inc., bringing its three-day total purchase to nearly P1 billion.

- By Richmond Mercurio

In a stock exchange filing yesterday, Emperador said affiliate The Andresons Group bought from the open market on May 21 a total of 25 million common shares of the company at P13.30 apiece.

"This signifies Andrew Tan's strong conviction in the business prospects of Emperador and perhaps a view that there is potentially significant upside from his acquisition price," China Bank Capital Corp. managing director Juan Paolo Colet said.