June 18, 2012

"These shares, together with the 60.5% interest acquired in March this year from the Uytengsu family, the founders of AMC, and the 8% stake already held, mean that RFC now owns 97.7% of the company's total outstanding capital stock," RFC said in a statement.

The Dutch firm said that almost 93% of AMC shares publicly traded on the Philippine Stock Exchange (PSE) were acquired at a price of PHP24 (US$0.57) per share.

In March 2012, RFC took over a controlling stake in AMC from the Uytengsu family.

Upon the takeover, RFC hiked its equity interest in Alaska Milk to 68.9% from about 8.1% by buying the shares held and controlled by the Uytengsu family, and made tender offer for the publicly listed shares.

RFC has a presence in Thailand, Indonesia, Malaysia, China, Vietnam, India, Hong Kong and Singapore and is expected to raise its annual global revenues to about EUR2.7 billion (US$3.4 billion), with the acquisition of AMC.

The acquisition of AMC has strengthened RFC's position in Asia, which is a strategic growth area for the dairy multinational.

"It raises Friesland Campina's Consumer Products International annual global revenues… to (about) EUR2.7 billion (US$3.4 billion). This acquisition likewise provides the company with a platform that fits into its strategic 'route2020goals'," said AMC.

The integration also provides AMC access to an international dairy company that has production plants in 25 countries and products that are sold in over 100 countries worldwide. Most notably, RFC's growing commitment to the Philippines is a vote of confidence for the country and its bright prospects.

RFC is a multinational dairy firm that produces and markets natural, nutritious and high-quality dairy products and ingredients. The Dutch firm has four business groups: Consumer Products Europe; Consumer Products International; Cheese and Butter; and Ingredients.

After complying with all formalities and regulations, AMC shares are likely to be delisted from the PSE in the near future.