Royal FrieslandCampina, a leading dairy company in the Netherlands, has bought a controlling interest in Philippines-listed Alaska Milk Corporation, one of the country’s biggest dairy companies.
Much of the MA activity we have seen so far this year has been Chinese and Japanese companies doing outbound acquisitions, but this $400 million deal, which is the biggest MA transaction in the Philippines so far this year, represents a European company looking at Asia’s potential after having tested the water earlier by buying a smaller stake.
FrieslandCampina is increasing its stake from about 8.1% to 68.9% through a purchase of 535.7 million shares held by...
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