Thai Billionaire-owned Firm Seek to Raise Holding in Vinamilk to 16.4%

Fraser & Neave Limited, owned by Thai billionaire Charoen Sirivadhanabhakdi, is tending bids to acquire an additional 5.4% stake in Vinamilk.


  F&N plans to spend $500 million to acquired an extra 5.4% stake in Vinamilk. Photo: Thanh Nien

Two funds under the umbrella of Singapore-based Fraser & Neave Limited (F&N) have registered to buy a combined 5.4% stake in Vinamilk, Vietnam’s largest dairy producer, for $500 million.

F&N BEV Manufacturing Pte. Ltd and F&N Dairy Investment Pte. Ltd will launch bids to buy 39.19 million shares, or a 2.7% stake, each of Vinamilk at a competitive auction on December 12 on the Ho Chi Minh Stock Exchange.

F&N, controlled by Thai billionaire Charoen Sirivadhanabhakdi, is the largest foreign stakeholder in Vinamilk, holding 11%. If successful, F&N will raise its ownership in the Vietnamese firm to 16.4%.

State Capital Investment Corporation (SCIC), which controls 44.7% in Vinamilk, will put up a 9% stake of the dairy firm for auction on December, with a starting price of 144,000 dong ($6.34) a share.

The Vietnamese government is speeding up a program to sell stakes in 12 flagship companies, including Vinamilk and two brewers Sabeco and Habeco, to mobilize funds for major infrastructure projects.

Tuan Minh / BizLIVE