Masan Group Corporation closed the first round of funding of its strategic partnership with Singha Asia Holding last month.
Singha contributed US$650 million (Bt23.2 billion), comprising $50 million for a 33.3-per-cent equity interest in Masan Brewery and $600 million for a 14.3-per-cent equity interest in Masan Consumer Holdings.
Proceeds of the $600-million into Masan Consumer Holdings facilitated the purchase of additional shares in Masan Consumer, the non-alcoholic branded food and beverage platform of Masan.
As a result, Masan Consumer Holdings’ direct ownership in Masan Consumer increased from 77.8 per cent to 96.7 per cent.
The first closing is a strong validation of Masan’s strategic value, platform and growth potential as the company further develops its business not only in Vietnam but inland Asean alongside Singha.
Closing of the remaining $450-million increase in Singha’s equity interests in Masan Consumer Holdings to 25 per cent is subject to customary regulatory and corporate approvals.
