Masan to buy brewery

Thursday, Aug 14, 2014 17:24

Products of the Phu Yen Beer and Beverage Co. Masan Group will acquire LamKa Co, which hold a 99.99 per cent stake in the beer company. -- Image

HCM CITY (Biz Hub) ─ Masan Group or one of its affiliates, the Orchid Consultant Company Ltd, will buy the entire equity of LamKa Company Ltd.

Group chairman Nguyen Dang Quang stated this in a management board resolution dated August 13, adding that Orchid Consultant will be renamed as Masan Brewery. LamKa Company Ltd holds a 99.99 per cent stake in the Phu Yen Beer and Beverage Joint Stock Company (Pybeco).

Masan Group's financial reports revealed last year that the company had reserved VND252 billion, or US$12 million, to buy a beer business.

A communications official of Masan Group told Biz Hub via a phone call on August 14 that the company would spend this amount on the LamKa deal.

Masan Group is based in HCM City and deals in consumer goods, mineral resources and banking. It has over 735.8 million shares, which are listed on the southern bourse. The shares closed up 0.5 point at VND86,000, or $4.1, per share on August 14.

Pybeco is located in the Hoa Hiep Industrial Zone in the south-central province of Phu Yen.

Quang also announced on August 13 that Masan Group will increase its charter capital from VND7.349 trillion to VND7.358 trillion, or from $349.95 million to $350.38 million, after issuing additional shares in July.

Masan Consumer, another subsidiary of the group, has acquired a 53.2 per cent stake in Vinacafe Bien Hoa and a 63.5 per cent stake in Vinh Hao Mineral Water. ─ VNS

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