KKR completes $250m investment in Vietnamese food major Masan

Global private equity firm KKR said on April 20 it had completed the disbursement of $250 million investment into Vietnamese listed Masan Group and its meat platform, Masan Nutri-Science.

Earlier this month, Masan had announced that it had reached an agreement with the New York-based investor to sell a 7.5 per cent stake of Masan Nutri-Science for $150 million, while Danish fund manager PENM Partners would full exit Masan Group shares to KKR for $100 million.

The close of the transaction makes it the second largest foreign shareholder of Masan Group, after the funds owned by the Government of Singapore (GIC), the private equity firm said in a statement.

Meanwhile, in a company presentation that Masan Group released earlier last month, the Vietnamese firm said PENM Partners was its biggest institutional investor with a 5.2 per cent stake, while GIC was holding 4.9 per cent.

KKR said the deal also made it the largest shareholder of Masan Nutri-Science after Masan Group. This is its second investment in Masan, as the private equity firm had injected $359 million in Masan Consumer, the Vietnamese conglomerate’s consumer goods arm, in two tranches in 2011 and 2013.

“This ($250 million) investment underscores our commitment to Vietnam in particular and to ASEAN generally. Vietnam holds great opportunity with its growing economy and favorable demographic trends. KKR is committed to investing in the market by partnering with leading companies such as Masan Nutri-Science,” Ashish Shastry, head of KKR Southeast Asia, said in an earlier statement.

Ming Lu, Head of its Asia Private Equity business, will attend Masan Group’s shareholder meeting on Monday, as an honorary guest to share his views on Vietnam’s consumer potential and KKR’s partnership with Masan.

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