Masan Consumer acquires 40 per cent Proconco stake
Masan Group, one of Vietnam’s largest private sector business groups, acquired the 40 per cent stake in Proconco on behalf of Masan Consumer from Prudential Assurance Private Limited and PCA International Funds SPC (Vietnam egregated Portfolio).
Masan will transfer the 40 per cent stake to Masan Consumer at cost. Morgan Stanley advised Masan Group and Masan Consumer on the acquisition of Proconco.
The deal cost a combined $96 million, Masan said.
The transaction between Masan Group and Masan Consumer will be closed after customary approvals in relation to the transaction have been obtained.
Proconco is one of the country’s leading animal feed producers, specializing in pig, poultry, fish and shrimp feeds.
The company takes part in all segments of the production value chain, from manufacturing to distributing, with 475 distributors across the country.
The acquisition will pave the way for Masan Consumer to enter the protein-based (pork, fish, seafood) supplying market, which poses high potential for development, Masan said in a statement.
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