Jardine Matheson firm seeks to up Vinamilk stake to over 11%

Vinamilk products are displayed for sale at a Vinamilk shop in Hanoi, Vietnam May 16, 2016. REUTERS/Kham

Singapore-listed automotive group Jardine Cycle & Carriage Limited (JC&C), a Jardine Matheson company, has registered to acquire an additional 14.51 million shares in Vietnam’s largest dairy producer Vinamilk to increase its stake in the Vietnamese firm to over 11 per cent from 8.86 per cent currently.

JC&C has registered to buy the shares through its wholly owned subsidiary Platinum Victory Pte Ltd, according to a disclosure released on Ho Chi Minh City Stock Exchange. If successful, Platinum Victory will hold total 160.1 million shares of Vinamilk, equivalent to an 11.03 per cent stake.

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