Vietnam’s PAN Group to acquire 49.9% stake in confectionery firm Bibica

Vietnam’s agriculture and food-focused firm PAN Group is seeking to acquire a 49.93 per cent stake in confectionery company Bibica JSC, according to a regulatory filing.

PAN Group plans to acquire 7.7 million Bibica shares at a price of 68,500 dong ($2.95) apiece. At this price, it is set to spend 530 billion dong ($22.7 million) to buy out other Bibica shareholders, including Korean conglomerate Lotte and individual investors.

PAN Food, a subsidiary of PAN Group, is currently the largest Bibica shareholder with a 50.07 per cent stake.

“After the acquisition, PAN Group will focus on technology investment and brand marketing to help Bibica become the leading confectionery company in Vietnam and the region,” a PAN Group spokeperson told DealStreetAsia.

Bibica posted 2018 revenue of 1.42 trillion dong and after-tax profit of nearly 110 billion dong. The company is targeting revenue of 1.6 trillion dong this year.

Established in 1998, PAN Group is one of the leading agriculture companies in Vietnam with total assets of 9.4 trillion dong ($406 million) as of December 31, 2018.

Singapore’s GIC, TAEL Partners, PYN, NDH Invest, SSI and CSC Vietnam are the major shareholders of the agriculture firm.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.