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- Release Date: 11/07/13 19:19
- Summary: GENERAL: SML: Synlait Milk Welcomes Future Shareholder FrieslandCampina
- Price Sensitive: No
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SML
11/07/2013 17:19
GENERAL
REL: 1719 HRS Synlait Milk Limited (NS)
GENERAL: SML: Synlait Milk Welcomes Future Shareholder FrieslandCampina
Synlait Milk Limited ("Synlait Milk") is pleased to announce that
FrieslandCampina Investments Holding B.V., a subsidiary of Royal
FrieslandCampina, will hold approximately 7.5% shareholding in Synlait Milk
upon completion of the Initial Public Offering ("IPO"). FrieslandCampina is
one of the largest dairy cooperatives in the world and an existing customer
of Synlait Milk.
Synlait Milk Chairman Graeme Milne said this investment from
FrieslandCampina, as part of the bookbuild to institutional investors and NZX
Firms, is an endorsement of Synlait Milk's operations and growth ambitions.
"Our working relationship with FrieslandCampina has developed over the years
and they have become a valued customer. We view their investment as a
positive endorsement of the growth opportunities we see for Synlait Milk in
the coming years"
On 10 July 2013 Synlait Milk announced it had set a Final Price of $2.20 per
ordinary share. At the Final Price, Synlait Milk will have a market
capitalisation of approximately NZ$322 million on completion of the IPO.
Bright Dairy and Food Co., Ltd will hold approximately 39.1% shareholding in
Synlait Milk and Mitsui & Co., Limited and Mitsui & Co. (Australia) Limited
will together hold approximately 8.4% shareholding in Synlait Milk following
completion of the IPO.
FrieslandCampina has products in more than 100 countries and annual revenue
of around 10.3 billion euro. It supplies consumer products such as
dairy-based beverages, infant & toddler nutrition, cheese and desserts to
markets in Europe, Asia and Africa.
ENDS
End CA:00238502 For:SML Type:GENERAL Time:2013-07-11 17:19:47
