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US investment firm sells Masan meat unit stake for loss

Created 08 October 2021
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U.S. investment fund KKR & Co has registered to sell its entire 7.1 percent stake in Masan MeatLife on the stock market at a 35 percent loss.

US investment firm sells Masan meat unit stake for loss

It will sell 23.16 million MML shares between Oct. 11 and Nov. 9 through put-through orders.

The purpose of the transaction is to "implement business plan", KKR said in a disclosure.

Though the stock now trades at a 52-week high of VND96,000, the value of the deal will only be around VND2.22 trillion ($97.5 million). KKR bought its stake in 2017 for $150 million.

Masan MeatLife, a subsidiary of conglomerate Masan, produces and sells meat under the Meat Deli brand.

KKR in August by 0.9 percentage points to 4.6 percent.

 

Source: VNE

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