HO CHI MINH CITY, Vietnam, April 13, 2011 /PRNewswire/ -- Masan Group (HOSE: MSN, "Masan"), one of Vietnam's largest private sector business groups, today announced that Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, "KKR"), a leading global investment firm with US$61.0 billion in assets under management, has signed definitive agreements to acquire an equity stake in Masan Consumer Corporation ("Masan Consumer" or the "Company", formerly known as Masan Food). KKR will invest US$159 million for a 10.0% equity stake in Masan Consumer, valuing the Company at US$1.6 billion and making the investment the largest ever private equity transaction in Vietnam. This is KKR's fourth investment in Southeast Asia and first in Vietnam. Masan Consumer will issue 14 million ordinary shares to KKR and decrease Masan Group's stake in Masan Consumer from 86.6% to 78.0%.
Masan has raised approximately US$500 million in private equity capital over the past two years and is currently one of the largest listed private sector groups in Vietnam. Masan Consumer is the fastest growing FMCG Company in Southeast Asia.
Madhur Maini, CEO of Masan Group, commented, "We have recently taken our market leading food platform to transform it into a consumer platform and this transaction validates our consumer strategy. We welcome KKR as a partner to assist us in achieving this objective. In addition, we view the next 2 years as transformational for the group and continue to build a war chest for strategic M&A."Truong Cong Thang, CEO of Masan Consumer, commented, "We have built a leading consumer platform in Vietnam. We will leverage our platform to diversify into other FMCG categories in the near future." Ming Lu, Member of KKR, commented, "KKR is excited to be making the largest ever private equity investment in Vietnam. This investment demonstrates our strong conviction in the business prospects of Masan Consumer, as well as in Vietnam as a whole." Masan Consumer is currently the market leader in fish, soya and chili sauce and the second largest producer of branded instant noodles. Masan and experience in building leading brands to achieve its vision to become the leading consumer company in Vietnam. Masan Consumer's revenue for the year ended December 31, 2010 increased to VND5,690 billion ( US$272 million) from VND2,004 billion ( US$96 million) in 2008 and net profit increased to VND1,253 billion ( US$60 million) from VND402 billion ( US$19 million). Goldman Sachs was advisor to Masan Group for the transaction.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV