October 4, 2012
Masan buys 40% stake in Proconco
Masan announced its acquisition of a 40% stake in Viet France JSC, the manufacturer of the popular animal feed production, Proconco.
The Hoa Muoi Gio Co Ltd, a subsidiary where Masan holds 100% stake, completed the procedure to buy the 40% stake from Proconco's two foreign investors: Prudential Vietnam Assurance Private Limited and PCA International Funds SPC, which represents the Vietnam Segregated Portfolio.
The deal cost a combined US$96 million, Masan said.
Masan announced that it is completing procedures to transfer the entire registered capital at Hoa Muoi Gio to the Masan Consumer JSC.
Proconco is one of the country's leading animal feed producers, specialising in pig, poultry, fish and shrimp feeds.
The company takes part in all segments of the production value chain, from manufacturing to distributing, with 475 distributors across the country.
The acquisition will pave the way for Masan Consumer to enter the protein (pork, fish, seafood) supplying market, which poses high potential for development, Masan told reporters.