Tuna canner Alliance Select signs P97-M share purchase with NZ’s Akaroa Salmon

A canned tuna manufacturer on Monday said it signed a share purchase deal with New Zealand-based Akaroa Salmon NZ Ltd.   The agreement, signed Monday, gives Alliance Select Foods International Inc. an 80-percent stake in Akaroa Salmon, Alliance Select said in a disclosure released by the Philippine Stock Exchange on Tuesday.   Apart from the share purchase deal amounting to NZ$2.8 million (P96.7 million), Alliance Select said it “will invest a further NZ$126,881 [P4,383,889] as working capital in Akaroa.”   Philippine-based Alliance Select, whose canning facilities are in General Santos City in Mindanao, said it is financing the acquisition of Akaroa Salmon “through a private placement of its authorized unissued shares.”   Investors taking part in the offer and their corresponding participation are:

• Albert Hong Hin Kay – 39,071,563 shares valued at P62.514 million

• Bondeast Private Ltd. – 13,023 411 shares valued at P20.837 million

• Mingjing Holdings Inc. – 2m844, 043 shares valued at P4.550 million

• S. Chandra Das – 2,604,760 shares valued at P4.167 million

• George E. Sycip – 1,562,500 shares valued at P2.500 million

• Washington Z. Sycip – 1,562,500 shares valued at P2.500 million.

The shares were offered at P1.60 apiece or a 14.57-percent premium on the 30-day volume weighted average price from May 17 to July 22, 2012, Alliance Select said in its disclosure.   The company said it would issue 60,668,750 additional shares for the private placement, constituting 5.67 percent of the company’s expanded capital.   The newly issued shares will listed on the PSE, Alliance Selected noted. — VS/BM, GMA News