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Hanil Feed to acquire stake in Vietnamese firm

Sep 20th at 20:56
20-09-2016 20:56:26+07:00

Hanil Feed to acquire stake in Vietnamese firm

Hanil Feed (005860), a feed manufacturer, has decided to acquire 8,000,000 shares of GTNfoods Joint Stock Company in Viet Nam for 5.6 billion won (US$5 million) through third-party allotment, it said on September 19.

 

This amounts to 10.85 percent of the firm's equity capital and it will own 3.2 percent stake in the Vietnam-based firm, following the purchase.

South Korea and Viet Nam will hold a joint committee meeting this week to discuss economic cooperation, the Korean Foreign Ministry said on September 20.

The 15th Joint Economic Committee will be held in Hanoi on September 22 with the talks to be led by Lee Tae-ho, deputy foreign minister for economic affairs and his Vietnamese counterpart Nguyen The Phuong, according to the ministry.

The committee has been held since 1993 and aims at providing a platform for both sides to exchange views and ideas on economic cooperation in a wide range of areas.

At the upcoming meeting, both will discuss follow-up measures to what was agreed upon in a summit held during the ASEM gathering in July, the ministry said.

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