Jardine C&C buys 5.53% interest in Vietnam's largest dairy company

The consideration price for Vinamilk hit $839.19m.

Jardine Cycle & Carriage (JC&C) acquired 80,285,671 shares or 5.53% of Vietnam Dairy Products Joint Stock Company (Vinamilk).

According to an announcement, the consideration price for the stake is around $839.19m (US$616.6m).

Vinamilk is the largest listed company in Vietnam in terms of market capitalisation, with a market cap of US$10.9b as of 10 November 2017. It also has a market share of 58% of the country's dairy producers.

The firm owns 13 dairy factories and 10 cow farms with a distribution network composed of 240,000 retailers.

JC&C said the acquisition of the interest is in line with its strategy to invest in Southeast Asian companies. It is increasing its exposure to the Vietnamese company.

Visit Singapore Business Review website for other stories.

Your rating: MagBe