TIDMVOF
VinaCapital Vietnam Opp. Fund Ld
18 December 2014
RNS Reach
18 December 2014
VinaCapital Vietnam Opportunity Fund Limited
VinaCapital Vietnam Opportunities Fund Limited and Daiwa PI
Partners Co. Ltd. announce major investment into International
Dairy Products JSC
VinaCapital Vietnam Opportunity Fund Limited ("VOF" or "the
Company"), an AIM-traded investment company established to target
key growth segments within Vietnam's emerging market, and Daiwa PI
Partners (DPIP), a Tokyo-based leading financial investor,
announces today that it has acquired a majority stake in
International Dairy Products JSC (IDP), one of Vietnam's leading
dairy producers. VOF and DPIP have co-invested USD45.0 million
(80.0% from VOF) making them the largest shareholders, with a
combined 70.0 percent ownership stake in IDP.
International Dairy Products JSC was established in 2004 with
its first factory in Chuong My - Ha Noi. It later launched the
second and third factory in Ba Vi and Cu Chi, two of the largest
fresh milk production hubs of Vietnam, in 2010 and 2013. IDP
specializes in producing and selling UHT milk, pasteurized fresh
milk, spoon and drinking yogurt, using the latest technology from
Europe to offer the best-quality dairy products to Vietnamese
consumers. Currently, IDP is cooperating with over 2,000 farmers,
collecting more than 75 tonnes of fresh milk per day for dairy
production under such brands as Love'in Farm, Ba Vi, and Love'in
Farm KUN. Management expects total revenue to exceed USD80.0
million for 2014.
VOF and DPIP are very fortunate to have Mr. Tran Bao Minh come
on board as the CEO to lead IDP to the next stage of growth. Mr.
Minh comes to IDP with more than 15 years of experience in product
marketing and executive leadership from companies such as Pepsi Co,
Vinamilk and TH Milk.
Mr. Tran Bao Minh, IDP CEO, commented on the transaction, "With
these two new major shareholders, IDP will now have more resources
at its disposal to support our long term goals, which focuses on
developing high quality dairy and nutrition products, specialized
for women and children. Discussions with VOF and Daiwa PI Partners
have already helped to shape our plan to expand dairy farms,
improve productivity and improve our nation-wide distribution
system."
VinaCapital CEO, Don Lam, stated, "We are very pleased to be
working closely with Mr. Minh on our latest private equity
investment, as he immediately brings unparalleled experience to
help lead IDP through the next phase of the company."
A member of Daiwa Securities Group whose operational base
spreads around the world, including Japan, the United States,
Europe, and Asia-Oceania, Daiwa PI Partners (DPIP) is a
high-profile multi-sector investor in Japan and is an authority in
private equity and debt investments with 13 years experience
investing in major companies inside and outside Japan. With the
investment in IDP, DPIP takes its first step in Vietnam where it
sees tremendous growth opportunities. In collaboration with VOF, it
will connect IDP to Daiwa Securities Group's large client base,
especially Japan's top dairy corporations in order to help IDP
apply modern production technologies and establish a mutual
distribution chain where high quality Japanese dairy products can
be exposed to Vietnam market and vice versa.
Note to editors:
About VinaCapital
VinaCapital is the leading investment management and real estate
development firm in Vietnam, with a diversified portfolio of USD1.5
billion in assets under management. VinaCapital was founded in 2003
and boasts a team of managing directors who bring extensive
international finance and investment experience to the firm. Our
mission is to produce superior returns for investors by using our
experience and knowledge to identify the key trends and
opportunities that emerge as Vietnam continues to develop its
economy. To achieve this, VinaCapital has industry-leading asset
class teams covering capital markets, private equity, fixed income,
venture capital, real estate and infrastructure.
VinaCapital manages three closed-end funds trading on the AIM
Market of the London Stock Exchange. These funds are: VinaCapital
Vietnam Opportunity Fund Limited (VOF), VinaLand Limited (VNL), and
Vietnam Infrastructure Limited (VNI). VinaCapital also co-manages
the USD32 million DFJ VinaCapital L.P. technology venture capital
fund with Draper Fisher Jurvetson.
VinaCapital has offices in Ho Chi Minh City, Hanoi, Danang,
Singapore and Yangon. More information about VinaCapital is
available at www.vinacapital.com.
About Daiwa PI Partners Co. Ltd.
Daiwa PI Partners (DPIP) is the leading financial investment
firm under Daiwa Securities Group, one of the largest independent
and comprehensive securities companies in Japan with a global
operational base. DPIP was founded in 2001 and has invested in
diverse areas, including private equity, properties, loans, and
energy, with the accumulated investment amount of around USD10.0
billion. By leveraging Daiwa Securities Group's broad network and
its strong relationships with clients, DPIP has established great
credibility with investees and business partners while enjoying
sound investment results.
DPIP has offices in Tokyo and Singapore. More information about
DPIP is available at www.dpipartners.co.jp/english/index.html.
Media queries
David Dropsey
VinaCapital Investment Management Limited
Investor Relations/Communications
+84 8 3821 9930
david.dropsey@vinacapital.com
Philip Secrett
Grant Thornton UK LLP, Nominated Adviser
+44 (0)20 7383 5100
philip.j.secrett@uk.gt.com
Hiroshi Funaki / Andrew Davies
Edmond de Rothschild Securities, Broker
+44 (0)20 7845 5960
funds@lcfr.co.uk
David Benda / Hugh Jonathan
Numis Securities Limited, Broker
+44 (0)20 7260 1000
funds@numis.com
Andrew Walton
FTI Consulting, Public Relations (London)
+44 (0)20 7269 7204
andrew.walton@fticonsulting.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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