Vietnam's Masan Consumer, of which US buyout giant KKR & Co LP holds US$359 million worth shares, said Friday it is purchasing 24.9 percent of Vinh Hao Mineral Water Company.
Established in 1930, Vinh Hao was the first domestic mineral water producer in Vietnam and is today one of the most recognized and trusted brands in the bottled beverage sector in the country.
Masan Group, the parent company of Masan Consumer, said February 1 that its subsidiary, on the back of the transaction, plans to launch a cash tender offer process at similar commercial terms to increase its stake. The contemplated acquisition and tender offer are subject to customary corporate and regulatory approvals.
Masan Consumer is a market leader in sauces, instant noodles and instant coffee. KKR's US$359 million investment into Masan is its biggest investment in Southeast Asia.
Masan Group's core businesses include consumer goods, mining and banking.