Jardine C&C purchases 5.53% stake in Vinamilk

US$616.6m buy-in for leading Vietnamese dairy producer comes around a year and a half after government scraps foreign ownership limit on the company

Annabeth Leow

Published Mon, Nov 13, 2017 · 09:50 PM

Vietnam

Singapore

MAINBOARD-LISTED Jardine Cycle & Carriage (Jardine C&C) is taking a 5.53 per cent stake in a leading Vietnamese dairy producer, after an auction last Friday by the State Capital Investment Commission of Vietnam (SCIC).

The US$616.6 million buy-in for Vietnam Dairy Products Joint Stock Company (Vinamilk) comes around a year and a half after the decision to scrap a foreign ownership limit on Vietnam's largest listed company by market capitalisation.

This deal is in line with Jardine C&C's strategy of investing in market-leading South-east Asian firms, the company said in its filing on …

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