GIC Considers Selling Stake in The Dalmore Scotch Maker, Sources Say
- Singapore sovereign fund has discussed with financial advisers
- GIC’s 12% stake in Emperador is worth about $697 million
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Singapore’s sovereign wealth fund GIC Pte is considering selling its stake in the Philippines’ Emperador Inc., the world’s biggest brandy manufacturer and owner of scotch brands including Jura and The Dalmore, according to people with knowledge of the matter.
The state-owned firm has had talks with financial advisers about the possibility of an eventual divestment, said the people, asking not to be identified as the process is private. GIC hasn’t decided whether to pursue a sale and a deal isn’t imminent, some of the people said.