Milbank LLP advised food and beverage conglomerate Del Monte Pacific Limited.
Campos family-led food conglomerate Del Monte Pacific Ltd. agreed to sell a 12 percent stake in its Philippine subsidiary Del Monte Philippines, Inc. to SEA Diner Holdings, a Singapore-incorporated, consumer-focused investment company. The deal was valued at US$120 million.
Under the terms of the agreement, SEA Diner purchased approximately 335.7 million shares in DMPI from Del Monte.
DMPI is engaged in the production and sale of food and beverage products primarily in the Philippines, and Del Monte operates one of the world’s largest fully integrated pineapple operations. Singapore’s SEA Diner is focused on investing in companies in the consumer sector in China and Southeast Asia.
The Milbank deal team based in Singapore and Hong Kong was led by partners Jacqueline Chan (Picture) and Paul Pery, with associates Ari Singzon, Hua Chan and James Seddon.
Law Firms: Milbank;
Clients: Del Monte Pacific Limited ;