The deal marks Bain Capital’s first-ever investment in Vietnam.
HO CHI MINH CITY: Masan Group Corp says Bain Capital, a global private investment firm, agrees to invest at least US$200mil in the company at a price of 85,000 dong per share.
The funds will be used to strengthen the firm’s financial position.
This marks Bain Capital’s first-ever investment in Vietnam and underscores its confidence in Masan’s ability to seize the opportunity to service the 100 million Vietnamese consumers’ needs in groceries, banking and other lifestyle needs.
The investment will be in the form of a convertible dividend preference share (CDPS), which can be converted into ordinary shares at a 1:1 ratio.
The CDPSs will get no preference dividend on top of the normal dividends paid to shareholders for the first five years. From the sixth year onwards there will be a 10% per annum preference dividend on the face value of each outstanding CDPS.
On the 10th anniversary of the issuance, the outstanding CDPSs will be converted into ordinary shares of Masan Group.
Masa Group chief executive Danny Le said of the deal: “In the face of a challenging consumer environment, we have continued to invest and breakthrough innovations to position ourselves for a consumer upswing.” — Viet Nam News/ANN
