Vietnamese Tiếng Việt | Tuesday, March 26, 2019 | Advertise with Us
Text Size

Vinamilk eyes 47% stake in GTNFoods

(0 votes, average 0 out of 5)

Dairy processor Vinamilk has announced that the firm will spend VND1.5 trillion on 116.7 million shares of GTNFoods JSC, which owns a series of brands such as Moc Chau Milk, Vinatea and Ladofoods.

Vinamilk eyes 47% stake in GTNFoods, vietnam economy, business news, vn news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, vn news, Vietnam net news, Vietnam latest news, Vietnam breaking news

Vinamilk products seen on a production line. Vinamilk eyes some 47% stake in GTNFoods 


On March 12, a source from Vinamilk publicized its projected purchase of these shares priced at VND13,000 each. If the deal is successful, the dairy processor will hold a 46.68% stake in GTNFoods.

Established in 2011, GTNFoods, previously known as Dai Viet Environment and Mineral JSC, operated in multiple fields such as infrastructure, mineral and construction materials.

In 2013, the firm started with merger and acquisition deals with food enterprises. As a result, GTNFoods secured a 35% stake in Lam Dong-based food firm Ladofoods in 2015 and at the end of the year, the firm acquired a 75% stake in Vietnam National Tea Corporation (Vinatea).

GTNFoods has recently raised its ownership at Vinatea to 95%, and owns a 73.72% stake in Vietnam Livestock Corporation and 51% stake in Moc Chau Milk.



Source:  SGT

Maybe You Also Interesting :

» Vinamilk Q4 post-tax profit grows

Vietnam Dairy Products Joint Stock Company (Vinamilk) has reported a year-on-year post-tax profit jump of 32 per cent to VNĐ2.3 trillion (US$98.92 million)...

» Vinamilk no longer attracts foreign funds?

Vinamilk has lost its appeal to foreign investment funds, with many beginning to sell down their holdings. Or are they just making space for the two largest...

» Competition in fresh milk market still hot

Vietnamese consumers buy on average 24 kilograms of dairy products each year, much lower than that in the region. Domestic materials can only satisfy 35...