The San Miguel-led bid to aquire Del Monte Pacific has become unconditional now that NutriAsia has a stake of more than 50%, Pricewaterhouse Coopers Corporate Finance Pte Ltd said on behalf of NutriAsia.
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According to reports in the Asian press, NutriAsia, a joint venture of San Miguel and the Compos group, launched the takeover bid after it bought 49.7% of Del Monte Pacific at the beginning of December for US$206.5m.
NutriAsia is proposing to buy the rest of Del Monte at $0.3862 a share. This offer will remain open until 20 January.
