THE £430 million sale of Scotch whisky maker Whyte & Mackay has been formally completed.
United Spirits said it had reached agreement with Philippines-based rum company Emperador Inc, which is owned by Filipino-Chinese billionaire Andrew Tan. The sale was forced by the UK Competition and Markets Authority after Diageo bought into United Spirits.
Yesterday United Spirits said: "Emperador has committed to supply United Spirits Limited with Scotch whisky for the next three years, thereby securing the short [and] medium term needs of the company."
The proceeds from the deal will be used by United Spirits to pay off £370m of acquisition debt. Glasgow-based Whyte & Mackay also owns the Dalmore, Jura, Tamnavulin and Fetercairn malts as well as the liqueur Glayva.
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