Kinh Do to sell 80 percent stake to Mondelez

Confectionery maker Kinh Do Corporation on November 11 announced that it will sell 80 percent of its stake to US-based Mondelez International Inc., the maker of Oreo cookies and Ritz crackers, for roughly US$370 million.

The transaction, which is considered as the biggest of its kind in the history of confectionery industry in Vietnam, is expected to close in the second quarter of 2015.

Kinh Do (KDC) listed on the Ho Chi Minh City Stock Exchange lost 1.57 percent to VND62,500 per share on the same day while the Vietnam benchmark VN-Index climbed 0.35 percent to 604.23 points.

By Thai Dang – Translated by Thuy Doan

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