Andrew L. Tan is the Chairman of the Alliance Global Group, a diversified global conglomerate which, in addition to a substantial property portfolio, owns the Emperador spirits group which includes whiskey brands such as Whyte and Mackay, The Dalmore, Jura in addition to a portfolio of world-renowned brandies like Domecq and Fundador. The Filipino businessman has a net worth of $2.7 billion, according to Forbes magazine.
His property arm, Megaworld, is expected to pay €150 million for
the Barcelona property known as «Diagonal 00». The deal takes the form of a sale&leaseback operation as Telefónica intends to continue in the 34,000m² asset and honour its lease obligations until 2060.
The Spanish based telecoms multinational, which is chaired since 2016 by José María Álvarez-Pallete, purchased the building from state-owned CZF for more than €129 million in 2014. Now, five years later, Telefónica has seen an opportunity to reduce part of its debt with the funds generated by this divestment.