Sector News

Vietnam will not seek strategic investors at Vinamilk's Dec stake sale

November 23, 2016
Food & Drink

Vietnam’s State Capital Investment Corporation (SCIC) said on Monday that it would not look for strategic investors when selling a 9 percent stake in Vinamilk, the country’s biggest listed firm, next month.

SCIC, which represents the state and owns 44.7 percent of the Vinamilk, has not decided the time for selling its remaining stake in the state-controlled dairy firm, SCIC Chairman Nguyen Duc Chi told a conference to introduce the sale set for Dec. 2.

He said F&N Dairy Investment, backed by Thai beer billionaire Charoen Sirivadhanabhakdi and which now owns 10.95 percent of Vinamilk, has not submitted any offer to buy more stakes in the firm.

By Mai Nguyen

Source: Reuters

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