Masan Beverage plans to raise ownership in Vinacafe Bien Hoa to 70%

Masan Beverage Company Limited (Masan Beverage) has offered to buy 9.84 per cent of Vinacafe Bien Hoa Joint Stock Company to raise its ownership in the coffee producer to 70 per cent.

Masan Beverage, a member of the consumer goods producer Masan Group (Masan), plans to buy 2.61 million shares of Vinacafe Bien Hoa for VND170,000 (US$7.55) per share, making the total value of the deal VND444 billion.

Masan Beverage is now holding nearly 16 million shares of Vinacafe Bien Hoa, equal to 60.14 per cent of the coffee company's capital.

Vinacafe Bien Hoa is now listed as VCF on the HCM Stock Exchange. VCF share yesterday jumped 7 per cent to close at VND158,300 after the information became public.

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