Victorias Milling Company, Inc. cancelled the acquisition of Asian Alcohol Corp. from Tanduay Distillers, Inc., Prior Holdings, Inc. and Castelbridge Investment Corporation.
December 12, 2022
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Victorias Milling Company, Inc. (PSE:VMC) entered into sale and purchase agreement to acquire Asian Alcohol Corp. from Tanduay Distillers, Inc., Prior Holdings, Inc. and Castelbridge Investment Corporation for PHP 2.2 billion on September 1, 2022. Victorias Milling Company, Inc. acquiring 738.33 million shares under this transaction. Tanduay Distillers, Inc. will sell 699 million shares, Prior Holdings, Inc. will sell 23.5 million shares and Castelbridge Investment Corporation will sell 15.3 million shares. For the year ended December 31, 2021 Asian Alcohol reported Total assets of PHP 3.8 billion, sales of PHP 2.07 billion and net loss of PHP 32.8 million.
Victorias Milling Company, Inc. (PSE:VMC) cancelled the acquisition of Asian Alcohol Corp. from Tanduay Distillers, Inc., Prior Holdings, Inc. and Castelbridge Investment Corporation on December 13, 2022.
Victorias Milling Company, Inc. is a Philippines-based integrated raw and refined sugar company. The Company operates mill and refinery facilities for sugar and allied products, as well as engineering services. The Company's segments include Sugar Milling, Distillery Operations, Power Generation and Others. Its Sugar Milling segment is engaged in the sale of raw sugar and molasses. Its Distillery Operations segment produces alcohol and ethanol with an actual daily capacity of 50,000 liters with molasses as the primary raw material. Molasses is sourced from sugar operations which produce it as a by-product. The Power Generation segment is engaged in the business of power generation derived from renewable energy resources for the wholesale of electricity to power companies, distribution utilities, electric cooperatives, retail electricity suppliers, aggregators and other customers. The Others segment includes food processing, real estate sales, leasing and entertainment.
Victorias Milling Company, Inc. cancelled the acquisition of Asian Alcohol Corp. from Tanduay Distillers, Inc., Prior Holdings, Inc. and Castelbridge Investment Corporation.
VICTORIAS MILLING COMPANY, INC. 
