Masan spends some $13.01 million on acquiring additional shareholding.
Masan Beverage (MSB) under the Masan Group purchased 1.85 million shares of Vinacafe Bien Hoa (VCF) in late February, according to the published trading results of the two.
Each share was worth VND157,000 ($7.03), meaning MSB parted with VND290.45 billion ($13.01 million) to make the purchase.
The shares account for 6.86 per cent of the total, with MSB therefore increasing its holding in VCF to 15.99 million shares, or 60.16 per cent of charter capital.
In 2015 VCF recorded profit of VND295 billion ($13.21 million) but earnings per share was VND11,112 ($0.49).
Besides holding shares in VCF, MSB also holds about 65 per cent of the Quang Ninh Mineral Water Joint Stock Company and 63.95 per cent of the Vinh Hao Mineral Water Joint Stock Company.
Masan Group is one of Vietnam’s largest companies, focused on domestic consumption and building leading businesses in the branded food and beverage sector and in the animal nutrition value chain.
Its businesses include Masan Consumer Holdings, the producer of some of Vietnam’s most trusted and loved brands in many food and beverage categories (such as Chin-su, Nam Ngu, Tam Thai Tu, Omachi, Kokomi, Vinacafe, Wake-up, Vinh Hao and Su Tu Trang), and Masan Nutri-Science, Vietnam’s largest local animal feed company (with brands such as Proconco and Anco).
The Group’s other businesses include Masan Resources, one of the world’s largest producers of tungsten and strategic industrial minerals, and a major shareholding Techcombank, a leading joint stock commercial bank in Vietnam.