Mitsui to buy 30.8 pct stake in unit of Vietnam's seafood firm

Japan's Mitsui & Co has agreed to buy a 30.8 percent stake in a subsidiary of Vietnam's biggest seafood exporter, Minh Phu Seafood Joint Stock Co.

The deal will allow Minh Phu Seafood to benefit from Mitsui's extensive distribution capabilities to expand its international business, the two companies said.

The deal value was not disclosed, but a statement said Mitsui would subscribe for 26.66 million new shares in Minh Phu - Hau Giang Seafood Corp, which runs a newly-built seafood processing factory.

Singapore state investor Temasek Holdings had bought a 10 percent stake in Minh Phu Seafood in 2007.

Rothschild was the sole financial adviser to the Vietnamese firm.

reuters

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