VIETNAM - Vietnam's Masan Group has acquired a 14% stake in one of the country's major food processors Vissan for US$63.9 million.
The purchase comes just after the IPO process for the state-owned food processing company, which began on 7 March 2016 and attracted great investor interest. Vissan raised slightly over US$40.5 million (VND 900 billion) at that time, selling a different 14% stake.
Following these transactions, the ownership breakdown now stands as follows: 65% controlled by the state, 14% sold at public auction, 14% for the strategic investor, and 7% for employees and unions.
Vissan is active in the meat sector, producing, processing, and trading fresh and frozen pork, beef, and poultry products. As a subsidiary of the Saigon Commercial Corporation (Satra) with the 45-year brand in the market, Vissan has 130,000 points of sale across the country. Vissan products are distributed at more than 1,000 supermarkets, convenience stores in Vietnam and also exported to many countries in the world.
The stake was acquired by Anco, a unit of Vietnam's Masan Nutri-Science - Masan Group 's animal feed unit.
For full details of the deal, read about it on Packaging Business Insight Asia.
|Download your Complementary Copy|