The move is part of plans to divest its huge government stake. The change was made possible by the State Capital Investment Corporation (SCIC), a sovereign fund which holds a 45% stake, and F&N Dairy Investment, which is controlled by a Thai beer tycoon with an 11% stake. A specific roadmap on the expansion of foreign ownership has not been revealed. SCIC has not given a timeframe for the sale of the government stake either.
Vinamilk CEO Mai Kieu Lien said she had no concerns when questioned about the potential sell-off of one of the country’s most well-recognised brands.
Vinamilk reported revenue of US$1.8 billion last year, up 14% from 2014, and net profit ofUS$348 million, up 28%.
