JavaScript is off. Please enable to view full site.

Vietnam taps banks to advise on $900 mln Vinamilk stake sale: sources

Vietnam taps banks to advise on $900 mln Vinamilk stake sale: sources

Saturday, September 24, 2016, 12:00 GMT+7

Vietnam has invited about half a dozen foreign investment banks to advise it on selling its stake in dairy producer Vinamilk, sources said, in one of the strongest signs yet of the government getting serious about offloading its most lucrative assets.

Credit Suisse, HSBC, J.P. Morgan Chase , Nomura Holdings, and advisory firm Rothschild are among the firms that recently received requests from Vietnam's government, several sources with direct knowledge of the matter told Reuters.

The people were not authorized to speak to the media.

The Vietnamese government's investment arm, the State Capital Investment Corporation (SCIC), holds a 44.7 percent stake in Vietnam Diary Products JSC, as Vinamilk is formally known.

It intends to sell roughly 10 percent, worth about $900 million at the current market price, then offload the rest incrementally, the sources said.

Vinamilk did not immediately respond to a request for comment. SCIC declined to comment. JPMorgan, Credit Suisse and HSBC declined comment while Nomura and Rothschild had no immediate comment.

More

Read more

Rescuers drilling to gain access to 12 trapped Vietnamese workers

Rescuers are trying to pump water out of the collapsed tunnel of a hydropower plant in the Central Highlands province of Lam Dong while drilling comtinues to gain access to the 12 workers who are still alive after being trapped there since Tuesday.

7 years ago
;

Photos

VIDEOS

‘Taste of Australia’ gala dinner held in Ho Chi Minh City after 2-year hiatus

Taste of Australia Gala Reception has returned to the Park Hyatt Hotel in Ho Chi Minh City's District 1 after a two-year hiatus due to the COVID-19 pandemic

Vietnamese woman gives unconditional love to hundreds of adopted children

Despite her own immense hardship, she has taken in and cared for hundreds of orphans over the past three decades.

Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Latest news