Jardine C&C buys 5.53% interest in Vietnam's largest dairy company

The consideration price for Vinamilk hit $839.19m.

Jardine Cycle & Carriage (JC&C) acquired 80,285,671 shares or 5.53% of Vietnam Dairy Products Joint Stock Company (Vinamilk).

According to an announcement, the consideration price for the stake is around $839.19m (US$616.6m).

Vinamilk is the largest listed company in Vietnam in terms of market capitalisation, with a market cap of US$10.9b as of 10 November 2017. It also has a market share of 58% of the country's dairy producers.

The firm owns 13 dairy factories and 10 cow farms with a distribution network composed of 240,000 retailers.

JC&C said the acquisition of the interest is in line with its strategy to invest in Southeast Asian companies. It is increasing its exposure to the Vietnamese company.