Today Royal FrieslandCampina N.V. successfully closed its tender offer for the shares of Alaska Milk Corporation (‘AMC’) in the Philippines. This has increased its ownership to 97.7% of AMC’s total outstanding capital stock.
Almost 93% of the AMC shares publicly traded on the Philippines Stock Exchange were acquired, at a price of PHP 24.00 per share. These shares, together with the 60.5% interest acquired in March this year from the Uytengsu family, the founders of AMC, and the 8.0% stake already held, mean that FrieslandCampina now owns 97,7% of the company’s total outstanding capital stock.
After complying with all formalities and regulations, AMC is likely to be delisted from the Philippines Stock Exchange in the near future.