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Mekong Fund divests from consumer-products maker
The Mekong Enterprise Fund II Ltd has fully divested its investment in the International Consumer Products (ICP) to a strategic investor, Marico Ltd, a publicly listed consumer-products company based in India, the fund manager of Mekong Capital announced in a press release on Feb. 21.
Though the selling price was not disclosed, the press release said this divestment results in a gross return multiple of 2x and a gross IRR of approximately 21 per cent on the shares sold by the fund.
This US$50 million fund originally invested $6.25 million in ICP as its first investment in October 2006.
ICP manufactures and markets a wide range of household, personal care and food products. It owns strong brands such as X-men, L'Ovite, and Thuan Phat.
In 2009, ICP acquired controlling ownership in Thuan Phat, one of the local leaders specialising in traditional sauces and condiments.
Mekong Enterprise Fund II is a private equity fund focusing on equity investments in unlisted companies in Viet Nam.
It aims to make investments in well-managed, fast-growing companies, particularly in consumer-driven industries in Viet Nam. The fund has made nine investments and has sold two.
vietnamnews
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