HO CHI MINH CITY -- Jardine Cycle and Carriage has acquired a 5.53% stake in Vietnam Dairy Products, or Vinamilk, making it the second largest foreign shareholder.
The Singapore-based conglomerate said in a release on Monday that its wholly-owned subsidiary in Vietnam, Platinum Victory, bought the 3.33% stake at an auction by the State Capital Investment Corporation (SCIC) on Nov. 10, and the rest on the stock market. The 3.33% was left over from an auction by SCIC of 9% of Vinamilk last December.
