
VMC calls off purchase of Asian Alcohol Corp.
VMC cites the unusual market developments in the sugar industry in the cancellation of its purchase of Asian Alcohol Corp.*Ronnie Baldonado photoVictorias Milling Co. (VMC) in Negros Occidental has called off its purchase of Asian Alcohol Corp. (AAC) from the LT (Lucio Tan) Group Inc. following a mutual agreement.This was disclosed by VMC in a report to the Securities and Exchange Commission (SEC) on Tuesday, December 13.On September 1 the SEC and Philippine Stock Exchange were informed of the signing of a Sale and Purchase Agreement by Tanduay Distillers Inc., a wholly owned subsidiary of LT Group Inc., together with Prior Holdings Inc. and Castelbridge Investment Corp., for VMC’s acquisition of 100 percent of the outstanding capital stock of AAC.However, in view of the re...









