VIETNAM – Vietnamese dairy giant Vinamilk has decided to remove its 49% foreign ownership cap, a move expected to generate interest from overseas investors in a company valued at US$7.85 billion.
According to Vinamilk investor relations manager Tran Chi Son, no timeframe has yet been agreed on when the current limit will be removed and shareholder voting is not required for it to go ahead.
The decision to open up Vinamilk is considered even more significant by the planned divestment of the government's 45% stake worth US$3.5 billion, held by the State Capital Investment Corporation (SCIC). It is understood that SCIC has yet to give a timeframe for the planned sale.
Currently, the largest foreign shareholder of Vinamilk is F&N Dairy Investment – part of the F&N group - with 11% share.
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