Conor McGregor may have just cashed out and gotten out of the whiskey business.
Becle, a Mexican beverage company best known for owning the Jose Cuervo tequila brand, "provided notice of the exercise of its call option to acquire 51% of the equity interests of EBS (Eire Born Spirits)," according to a news release.
The former UFC two-weight champion, alongside manager and business partner Audie Auttar have reportedly sold 51% stake to Becle, a Mexican beverage company who's best known for owning the Jose Cuervo tequila brand.
Becle went into business with McGregor and his manager Audie Auttar's owned EBS company and owned 20% of Proper No. Twelve before upping that percentage to 49% in 2020 and now owning a majority stake at 51%.
Becle released a lengthy statement on the new deal.
"Net financial result was a loss of P$38 million pesos for the full year 2020. This loss was mainly derived from interest expenses as well as the Mexican peso appreciation versus the U.S. dollar when compared to the third quarter of 2020, partially offset by the recognition of the fair value of the Company’s call option to acquire 51% of EBS.
The Company has a call option to acquire 51% of the equity interests of EBS. The 51% option is classified and measured as an asset in the consolidated statement of financial position and is classified and measured at Fair Value through Profit and Loss (FVTPL)."
According to Wine & Spirits Daily, a Becle spokesperson confirmed the deal and said they now are in complete control of the company. No word on if McGregor will remain on board with the company or if this is a complete split of McGregor and Proper No. Twelve.
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