Vietnam's Masan Group increases stake in beverage chain Phuc Long Heritage to 85%

Vietnam's Masan Group increases stake in beverage chain Phuc Long Heritage to 85%

Photo: Phuc Long Heritage Joint Stock Company

Vietnamese retail giant Masan Group Corporation has increased its stake in beverage chain Phuc Long Heritage Joint Stock Company from 51% to 85% for a consideration of VND3.6 trillion ($154 million).

The Sherpa Company Ltd, a direct subsidiary of Masan Group, acquired 10,837,500 ordinary shares, equivalent to 34% equity interest in Phuc Long Heritage. As a result of the transaction, Masan’s equity interest in the beverage chain has increased from 51% to 85%, according to Masan’s consolidated interim financial statement for the first six months.

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