Dutch firm FrieslandCampina to control Ultrajaya after $822m merger deal
Assuming all existing Ultrajaya shareholders do not exercise their rights to buy some of the new shares, FrieslandCampina International Holding B.V will hold a 30.81 percent stake in the combined entity following the merger of Ultrajaya and Frisian Flag Indonesia.
Dutch dairy giant FrieslandCampina International Holding B.V. (FCIH) is set to gain majority control over Ultrajaya Milk Industry & Trading Company following a merger deal worth $822 million. The deal, which involves FCIH acquiring a controlling stake in publicly listed PT Ultrajaya Milk Industry & Trading Company, will replace the Prawirawidjaja family as the new controlling shareholders.
The merger saw FCIH contributing non-cash assets and offering Ultrajaya shareholders the option to purchase new shares, with the latter totaling up to 7.88 billion at a price of Rp 2,150 each. The deal requires approval from Indonesian authorities and the existing shareholders of FFI, which is currently owned by FCIH, Blue Waves Group Ventures, and PT Bahtera Wiraniaga Internusa.
Written by urgent.news from The Jakarta Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
