Masan to buy out Vinacafe

Masan Beverage Company Limited (MB) announced at the weekend that it offered to buy 401,000 shares for around VND90 billion ($3.86 million) by order matching or via agreement between June 17 and July 16.

MB, a subsidiary of consumer goods producer Masan Consumer Corporation, has been buying stakes in Vinacafe Bien Hoa JSC since 2011. The latest transaction was made in February 2018 when it bought nearly eight million shares for VND1.6 trillion (around $68.67 million) to increase its holding to 98.49 percent.

Ticker VCF of Vinacafe Bien Hoa JSC trades at VND216,000 ($9.3) on the stock market.

The company targets net revenues and net profits this year of VND3.3 trillion ($141.59 million) and VND780 billion ($33.47 million), respectively.

Vinacafe, which was established in 1968, has led the instant coffee market for a long time.