F&N dairy subsidiary to acquire additional 4.6% stake in Vinamilk from Jardine C&C
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F&N Dairy Investments, a subsidiary of Fraser & Neave, plans to acquire an additional 4.6% stake in Vinamilk from Jardine Cycle & Carriage, involving 96.1 million shares for about six trillion Vietnamese dong (S$294 million). This will increase F&N's stake in Vinamilk to 25%. F&N has no plans for further acquisitions requiring a public tender offer. JC&C will use the proceeds for internal funding. F&N shares fell 0.7% to S$1.47, and JC&C shares fell 0.7% to S$33.38.
Source: Businesstimes The copyright of this article belongs to the original author/organization.
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