House Foods Corporation signs agreement to acquire a 1.85 pct stake from Masan Group

HCM City (VNA) – Japanese food and beverage producer House Foods
Corporation on Dec. 3 signed an agreement to acquire a 1.85 percent stake from
HCM Stock Exchange-listed Masan Group, said the local food producer.

Accordingly, House Foods will spend 20 million USD to buy the stakes, equivalent
to 9 million new ordinary shares, marking the acquisition a strategic partnership
with Masan .

The number of ordinary shares outstanding post the enlargement will be
around 485.4 million. Presently, Masan has listed 476.3 million shares on the
HCM Stock Exchange, under the MSN code. MSN on Dec. 3 closed at 32,600 VND a
piece.

The deal will enable Masan to leverage House Foods Corporation’s research
and development capabilities to enhance quality and augment its product lines.
Similarly, House Foods will be able to capitalise on Masan ’s knowledge of
Vietnam and its network.

“ Masan will continue to partner with leading financial and strategic players
to execute our strategy of creating a local multi-national corporation to execute
Vietnamese values,” said Madhur Maini, CEO of Masan Group.

Meanwhile, Hiroshi Urakami president of House Foods Corporation, greatly
appreciated the partnership with Masan , saying that Vietnam would have
tremendous growth opportunities in the future.

Previously, Masan made the partner with private investment group Texas Pacific
and Denmark ’s BankInvest, receiving a combined investment of 50 million
USD.-Enditem