Korean firm eyes stake at Vissan
Korean firm eyes stake at Vissan
South Korea’s CJ CheilJadang Corporation has expressed interest in acquiring a stake at Vissan, a domestic meat processor and supplier, to speed up its investment in the Vietnam market with a focus on food, food processing, husbandry and agriculture.
Speaking at a meeting with HCMC chairman Le Hoang Quan yesterday, Lee Hae Sun, president of the group, said that CJ is interested in equitization of State-owned enterprises in HCMC. The group wants to buy shares of the enterprises, especially Vissan.
Vissan is a leading food processing and production company in Vietnam while CJ is strong in food and food service sectors in Korea and other countries. So, cooperation between both sides will help improve Vissan’s performance, Lee said.
If CJ becomes a shareholder of Vissan, it will promote Vissan brand in Vietnam and overseas markets via exports of Vissan products.
Chairman Quan confirmed that Vissan is among leading food processing firms in the city. Vissan will go public this year and signed an equitization consulting contract with Viet Capital Securities Company last month.
Quan suggested CJ contact Vissan to negotiate cooperation or share purchase.
