Saigon Co.op transfers 51% shares of Nam Duong to Wilmar Group

The Saigon Union of Trading Cooperatives (Saigon Co.op) on October 27 officialy transfered 51 percent shares of the sauce branded Nam Duong to Wilmar International Limited (Wilmar). Accordingly, Wilmar will own a 51 percent stake and Saigon Co.oop with 49 percent.

The two sides will cooperate to build the Nam Duong International Food Company Limited with total investment capital of VND 577billion at Hiep Phuoc industrial zone in Nha Be district of HCMC.

Mr. Nguyen Thanh Nhan, general director of Saigon Co.op said the joint venture will boost the development to Vietnam’s consumer market and we hope the factory will produce new production meeting international safety standard and create global distribution network while maintaining the traditional flavors.

A.Van -Translated by T.Tran

Other news