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AEI pivots from aluminium making to alcohol distribution

Lim Hui Jie
Lim Hui Jie3/12/2021 07:00 AM GMT+08  • 9 min read
AEI pivots from aluminium making to alcohol distribution
Aluminum products manufacturer AEI is now pivoting into the liquor business, in a bid to enhance profitability. Find out more.
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For years, AEI Corp has been struggling with its loss-making aluminium parts business. Under Sun Quan, the company’s executive director and new controlling shareholder, AEI is moving into the alcohol distribution business.

On Dec 31, 2020, AEI, which is — as of December 2019 — 52.57% held by a fund led by Sun, announced a deal to buy alcohol distributor MTBL Global, which is separately and solely held by Sun via Capital Impetus Group. Under the terms of the deal, AEI will pay up to $20 million, subject to conditions such as performance targets.

The deal is still subject to shareholders’ approval, but if it goes through, Sun foresees that the Singapore-listed company will one day be Asia’s Diageo, the UK company known for its expansive alcohol portfolio.

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