FrieslandCampina Philippines is planning to purchase the remaining 14.94 million common shares of Alaska. These will be acquired at PHP24 ($0.56) a share, for a total of worth PHP358m ($8.49m).
After completing the tender offer, FrieslandCampina Philippines expects Alaska Milk to be delisted from PSE's official registry by 5 November 2012.
In March 2012, Royal FrieslandCampina completed the acquisition of a controlling stake in Alaska Milk, from the Uytengsu Family, for €227m. The company increased its stake from 8.1% to 68.9%, as part of its strategy to strengthen its presence in Asia.
Alaska Milk, which produces canned milk, powdered milk, and ready-to-drink milk, has annual revenues of €200m with a production facility in San Pedro, Laguna.
