HA NOI — Coffee giant Thai Hoa Corporation will sell a 10-per-cent stake to VinaCapital under an agreement inked yesterday.
The value of the contract wasn't released.
Under the terms of the acquisition, VinaCapital will support Thai Hoa in corporate governance, financing and human resources training. The fund will also help seek new export markets and market the coffee company's trademark overseas.
Thai Hoa chairman Nguyen Van An said that the acquisition reflected VinaCapital's strong confidence in Thai Hoa's business strategy and prospects.
The support of VinaCapital would also help Thai Hoa strengthen its position in domestic market, An said.
VinaCapital chief operating officer Brook Taylor also expressed his belief that Thai Hoa would soon lead the Vietnamese coffee industry due to its solid background.
Thai Hoa already exports 60 per cent of the country's total volume of arabica coffee. It is also setting up an instant coffee processing facility in the Central Highlands province of Lam Dong and developing 10,000ha of arabica coffee plantations in Dien Bien, Hoa Binh and Quang Tri provinces, as well as in the Lao province of Champasak.
Thai Hoa yesterday also inked a deal with APEC Securities Co for the latter to provide consultancy in financial restructure and a planned listing of shares on the Ha Noi Stock Exchange this year, representing a public offer of equity worth VND550 billion (US$26.2 million).Source: vnagency.com.vn
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