Vietnam-based investment firm VinaCapital has completed the sale of its shares in the packaging business Ngoc Nghia Industry – Service – Trading, scoring a 1.6x return over 2.5 years, and an IRR of 21%, according to a statement by VinaCapital dated April 20.
Thai chemical major Indorama Ventures said in a separate announcement on April 22 that it had acquired 97.8% of Ngoc Nghia for a total payment of almost 2.1 trillion dong ($91.4 million).
