Dragon Capital and affiliates increase stake in Masan

Saturday, Nov 09, 2013 09:49

Masan products. -- Photo vietbao.com

HA NOI (Biz Hub)  — Private equity group Masan (MSN) sold nearly 29.8 million shares to Dragon Capital's affiliates on October 30, the group announced.

In 2010, a Masan subsidiary issued promissory notes worth over VND2.85 trillion (US$134.4 million) to Dragon Capital's affiliates in exchange for the ownership of the Nui Phao mine in northern Thai Nguyen Province.

A sum of VND893.4 billion ($42.1 million) was paid in cash, while the share sale accounted for the remaining VND1.96 trillion ($92.4 million).

After the transaction, the group of investors related to Dragon Capital raised their stake in Masan to 4.38 per cent, higher than global private equity investment group TPG Capital's holding.— VNS

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