Vietnam News Network

Vietnam News: Local, National, Business, Sport, Entertainment and Technology

Trade BTCUSD, Bitcoin and Cryptocurrencies

BUY & SELL BTCUSD | View BTCUSD News & Updates


Buy Sell BTCUSD, Bitcoin and Cryptocurrencies

Vinamilk divests stake in brewery   2009-03-26 - VietNamNet/VNS

 
Dairy giant Vinamilk has finalised the transfer of its US$31.8 million stake in the SABMiller Viet Nam joint venture to its partner SABMiller Asia Plc.

Explaining the move, Vinamilk general director Mai Kieu Lien said: "We would like to focus on our core business this year as we struggle with the current economic situation. The core business will help us enhance our position in the dairy market and maximise profits for the company’s shareholders."

The SABMiller Viet Nam joint venture becomes a solely foreign-invested enterprise operating a brewery in the southern province of Binh Duong.

Established as a joint venture in early 2006, the company has a total capital of $45 million.

"This acquisition will give us increased flexibility to implement various business initiatives in Viet Nam, and the new company will complement our existing beer businesses in the broader Asian region," said SABMiller Asia managing director Ari Mervis.

He said his company was looking forward to further developing and expanding its interests in the growing and attractive Vietnamese beer market.



Other news

VN-Index gains on rising volumes   2009-03-26

The operation of commercial banks in the crisis period   2009-03-26

Over $20 billion worth of gold lying among people   2009-03-26

Now is the best time to go shopping   2009-03-26

Businesses still rushing into financial investments despite lessons   2009-03-26

Unhealthy competition remains on medicine market   2009-03-26

UAE firm pledges to start up Thu Thiem resettlement project soon   2009-03-26

Paper import tax increase proposal not hailed   2009-03-26

Businesses refuse state preferential credit 17:24' 26/03/2009 (GMT+7)   2009-03-26

Vietnam’s quarterly FDI down by 40 percent   2009-03-26

BUSINESS IN BRIEF 26/3   2009-03-26

How small businesses prepare for shifting bourses?   2009-03-26

Mid-east offers opportunity for struggling exports   2009-03-26

Vietnam currency slides as inflation eases   2009-03-25