TPG, BankInvest buy $50 million of Vietnam food group

TPG Inc., the US private-equity company, and BankInvest, a Danish investment fund, bought a US$50 million stake in Masan Group, a Vietnamese food and financial services company.

“Vietnamese consumers will increasingly demand branded consumer goods,” Hans Christian Jacobsen, managing director of BankInvest, said in an e-mailed statement from the Vietnamese company Monday. “Masan Group is ideally positioned to tap into this demand and to develop future products and services.”

Masan Group’s food unit makes soy and fish sauce, and sells products under the “Chin-Su” and “Omachi” brands. The Ho Chi Minh City-based company also owns 20 percent of Vietnam Technological & Commercial Joint-Stock Bank, a Vietnamese lender known as Techcombank.

The Ho Chi Minh City Stock Exchange has approved Masan’s plan to list 476 million shares, according an announcement on the bourse’s website Monday. The exchange didn’t give a time for the listing.

TPG is based in Fort Worth, Texas, and BankInvest is based in Copenhagen.

thanhnien, bloomberg

>   Shipping lines demand road repairs to connect port with highway (27/10/2009)

>   Retailers report electronics rationing (27/10/2009)

>   Late Lotte license may cost law firm (27/10/2009)

>   Businesses gearing up in post-crisis period (27/10/2009)

>   MOJ rejects MOF’s tax collection on vans (27/10/2009)

>   Businesses embrace everyday consumers (27/10/2009)

>   Dam projects threaten Highlands forests (26/10/2009)

>   Sri Lankan officials discuss trade ties (26/10/2009)

>   Vietnamese and Slovakian businesses meet in Hanoi (26/10/2009)

>   RoK businesses to boost investment in Vietnam (26/10/2009)