US investment firm sells Masan (MML) meat unit stake for loss
US investment firm sells Masan (MML) meat unit stake for loss
U.S. investment fund KKR & Co has registered to sell its entire 7.1 percent stake in Masan MeatLife on the stock market at a 35 percent loss.
A staff holds a Meat Deli box at a VinMart store. Photo courtesy of Masan MeatLife |
It will sell 23.16 million MML shares between Oct. 11 and Nov. 9 through put-through orders.
The purpose of the transaction is to "implement business plan", KKR said in a disclosure.
Though the stock now trades at a 52-week high of VND96,000, the value of the deal will only be around VND2.22 trillion ($97.5 million). KKR bought its stake in 2017 for $150 million.
Masan MeatLife, a subsidiary of conglomerate Masan, produces and sells meat under the Meat Deli brand.
KKR in August reduced its stakes in real estate developer Vinhomes by 0.9 percentage points to 4.6 percent.
