Brewery deal hops forward
Masan Group Corporation which is listed on the Ho Chi Minh City Stock Exchange, has announced the receipt of its first investment worth US$650 million from the Thai brewery partner Singha Asia Holding Pte Ltd.
Masan Group Corporation which is listed on the Ho Chi Minh City Stock Exchange, has announced the receipt of its first investment worth US$650 million from the Thai brewery partner Singha Asia Holding Pte Ltd.
Of the amount, US$50 million is to hold 33.3% of stakes at Masan Brewery. The remaining US$600 million is to retain 14.3% of stakes at Masan Consumer Holdings, which will use the investment to lift its holding rate at Masan Consumer from 77.8% of stakes to 96.7%.
In late December 2015 Masan Group Corporation (Masan) and Singha Asia Holding Pte Ltd. (Singha) signed agreements to form a strategic partnership. Upon investing US$1.1 billion, Singha will own 25% of Masan Consumer Holdings and 33.3% of Masan Brewery. Masan Consumer Holdings will own the remaining 66.7% of Masan Brewery. The transaction is expected to be concluded by February 2016.
The balance of the investment package, worth US$450 million, will be transferred to raise the ownership rate of Singha at Masan Consumer Holdings to 25% from the aforementioned 14.3% level.
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Chief executive officer of Singha Asia Palit Bhirombhakdi said that “I am confident that with Singha as a partner, Masan will be well received by Thailand’s 65 million consumers, where its key categories such as fish sauce and Vietnamese coffee are appreciated for their unique flavour and origin.”
He added that Masan’s strong distribution platform would allow Singha to access a fast-growing market of more than 90 million consumers and support an expansion into new categories.