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Vinamilk to welcome greater foreign investment

by VTV423 May 2016 Last updated at 18:01 PM

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Vinamilk to welcome greater foreign investment
VTV.vn - Vietnam’s dairy giant Vinamilk have accepted a lifting on the 49% limit for foreign ownership following their shareholder AGM on May 21.

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%.

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