CP Pokphand, a Chinese animal feed producer, will buy a 70.8-per-cent stake in CP Viet Nam Livestock Co, one of the leading livestock and seafood companies in Viet Nam.
CP Pokphand will acquire the interest from Bangkok-based Charoen Pokphand Group Co Ltd for about US$609 million – a figure equal to over 12 times CP Viet Nam Livestock Co’s 2010 net profit. The deal is expected to be completed before the end of the year.
“The deal, as one of the largest corporate acquisitions in Viet Nam, represents a unique opportunity for CP Pokphand to acquire a controlling stake in a market leader and expand into one of the fastest growing feed and farming markets in Southeast Asia,” the company said in a press release.
CP Viet Nam, established in 1993, has expanded its entire food production value chain, from the manufacturing and distribution of animal feed to breeding and farming of livestock and seafood, and processing and production of meat and food products.
The company currently holds a 20-per-cent market share in both the commercial feed and industrial farming markets. It earned over VND20 trillion ($1 billion) last year and posted a net profit of VND964.6 billion ($50.3 million).
http://vietnambusiness.asia/chinese-animal-feed-producer-to-buy-viet-nam-livestock-firm/
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