Northern Cement Co. (ASE:NCCO) announced a private placement of 104,500,000 shares at a price of PHP 28.708 per share for gross proceeds PHP 3,000,000,000 in first quarter of 2013. The transaction included participation from San Miguel Yamamura Packaging Corporation. The investor acquired 35% stake in the company pursuant to the transaction. Manolet Salak, Thiam Kit Lee, Calvin Chua, and Junhao Tan of ING Groep NV acted as sole advisors to the investor for the transaction.

In first quarter of 2013, Northern Cement Co. closed the transaction.