September 5, 2022 | 12:03 amVICTORIAS Milling Company acquisition of Asian Alcohol Corp. is expected to lower its operating costs and improve profit margins, analysts said.
Meanwhile, Mercantile Securities Corp. Head Trader Jeff Radley C. See said that there will be little movement in terms of price action for both companies since both are owned by Lucio Tan Group. In the sale and purchase agreement signed on Sept. 1, Tanduay Distillers as well as the other two shareholders agreed to sell a total of 738.33 million shares of Asian Alcohol to VMC with the transaction expected to be completed before the year ends.
Sales in its ethanol segment are the third largest contributor at P594.71 million in the quarter, more than four times of last year’s P140.39 million.