August 16, 2012

Philippine milk manufacturer Alaska Milk Corporation has secured approval to exit the Philippine Stock Exchange (PSE) after a firm from the Netherlands bought out earlier this year the company's controlling stakeholders. 
 
A timetable has yet to be realized, however, as the company's delisting is still subject to the PSE's approval.

According to the disclosure, the exchange will inform the trading participants and the investing public of further developments on the matter.

Following the completion of the acquisition and tender offer, Alaska Milk went on to express interest in delisting from the PSE this quarter, citing the likelihood of falling below the stock exchange's 10% minimum public float level following the tender offer, which resulted into FrieslandCampina's 90% ownership of the company.