Listed Canner Alliance Select Foods International, Inc. finalized last Monday its earlier-announced purchase of an 80% stake in New Zealand-based Akaroa Salmon NZ Ltd. For about P97 million, the local firm said in a disclosure to the Philippine Stock Exchange (PSE) yesterday. "Further to our disclosure of July 3, we are pleased to announced that Alliance [Select] has signed today, Oct 1, a share purchase agreement Akaroa. The agreement gives Alliance an 80% stake in Akaroa for a consideration of NZ$2.8 million," the local company said. Alliance Select added that it is earmarking NZ$126,881 as working capital for Akaroa.

de la Fuente, F. J. G. (2012, October 3). Alliance Select finalizes purchase of NZ fish company. Business World, p. S1/7.