Jardine C&C to acquire 5.5% stake in Vinamilk for $839 mil

SINGAPORE (Nov 13): Jardine Cycle & Carriage is acquiring a 5.53% stake in Vietnam Dairy Products Joint Stock Company, better known as Vinamilk, for US$616.6 million ($838.6 million).

The market value of the 5.53% stake, calculated based on the volume weighted average price (VWAP) of all trades done on Friday, is US$602.7 million.

Jardine C&C's wholly-owned subsidiary Platinum Victory made the acquisition of some 80.3 million shares of Vinamilk through the market and its successful participation in an auction by the State Capital Investment Commission of Vietnam (SCIC), the largest shareholder of Vinamilk.

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