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ABD gains worldwide ownership of Mansion House Brand
The strategic acquisition of UTO Asia Pte. Ltd., Singapore brings worldwide rights of ‘Mansion House’ and ‘Savoy Club’ brands.
Following the transaction of Euros 1,225,000, UTO Asia has become a wholly-owned subsidiary of ABD.
The Board of Directors of Allied Blenders and Distillers Limited (ABD) approved the acquisition of 100 percent of the equity share capital of UTO Asia Pte. Ltd. (UTO Asia), a company incorporated under the laws of Singapore.
The total consideration of this acquisition is Euros 1,225,000 (excluding stamp duty and levies). Following this transaction, UTO Asia has become a wholly -owned subsidiary of ABD.
The principal activity of UTO Asia is those of liquor, spirits and wines. It is the legal and beneficial owner of worldwide right, title interest in the brands ‘Mansion House’ and ‘Savoy Club’ excluding certain territories, which are Singapore, Malaysia, Indonesia, Philippines, Thailand, Cambodia, Vietnam, Laos, China, and Myanmar.
The acquisition of UTO Asia and the associated ownership of worldwide right, title interest in the Mansion House and Savoy Club brands (barring the excluded territories) aligns with ABD’s strategic expansion objectives, allowing it to gain full control over the Mansion House and Savoy Club brands on a global scale.
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