Masan Group Forms Strategic Partnership With House Foods Corp

VNStockNews.com - Masan Group Corporation (HOSE: MSN), one of the largest private sector groups in Vietnam, is pleased to announce that leading Japanese food and beverage company, House Foods Corporation has today signed an agreement to take a strategic stake of approximately US$20 million in the business, acquiring 9 million new ordinary shares at a price of approximately VND40,000 per share, representing a stake of around 1.85% of Masan Group Corporation's enlarged share capital.

The transaction values Masan Group Corporation at over US$1 billion.

Madhur Maini, CEO of Masan Group, commented, "Masan will continue to partner with leading financial and strategic players to execute on our strategy of creating 'local MNCs' to execute Vietnam value."

House Foods is one of the largest F&B players in Japan with a dominant position in the curry category. Mr. Hiroshi Urakami, the President of House Foods Corporation, says, "We believe Vietnam has tremendous growth opportunities and that Masan Group is the ideal firm to partner with in the Vietnamese market."