Masan Group solidifies strategic partnership with Singha
Masan Group solidifies strategic partnership with Singha
Masan Group Corporation (MSN), closed the first funding of its strategic partnership with Singha Asia Holding Pte Ltd (Singha) in January.
Singha contributed US$650 million, comprising a $50 million investment for a 33.3 per cent equity interest in Masan Brewery and a $600 investment for a 14.3 per cent equity interest in Masan Consumer Holdings.
Proceeds of the $600 million into Masan Consumer Holdings facilitated the purchase of additional shares in Masan Consumer, the non-alcoholic branded food and beverage platform of Masan. As a result, Masan Consumer Holdings' direct ownership in Masan Consumer increased from 77.8 per cent to 96.7 per cent.
The first closing is a strong validation of Masan's strategic value, platform and growth potential as the company further develops its business not only in Viet Nam but inland ASEAN alongside Singha.
Closing of the remaining $450 million increase in Singha's equity interests in Masan Consumer Holdings to 25 per cent is subject to customary regulatory and corporate approvals.
