VietNamNet Bridge – Morgan Stanley Asia (Singapore) Limited has been selected as the leader of a group of consultants for the sale of 9% of charter capital of the Vietnam Dairy Products Joint Stock Company (Vinamilk), Vietnam’s largest milk producer, the State Capital Investment Corporation (SCIC) announced. 

The other consultants in the group are Saigon Securities Inc. Ltd. (SSI) and VinaCapital Corporate Finance Vietnam.

"The selection of consultants is made under the provisions of the Procurement Law. The group of consultants will give advice on the capital selling plan and the starting price, and finding investors at home and abroad, as well as implementation of procedures related to the sale of shares,"SCIC said.

The financial consultancy contract was signed between SCIC and consultants on October 5. The deal value was not disclosed by the parties.

According to SCIC, the selection of consultants who are prestigious local and foreign financial institutions will ensure open and transparent sales of the state's stake in Vinamilk.

Earlier, SCIC Chairman Nguyen Duc Chi told the media that the divestment of State capital from Vinamilk will have to follow a strict roadmap to ensure the interests of the State and Vinamilk.

This year SCIC will sell 9% of capital at Vinamilk, which Duc believed to be enough to lure investors.

SCIC currently owns 44.7% stake in Vinamilk. 

According to international media, Fraser & Neave Ltd. (F&N) of Thai billionaire Charoen Sirivadhanabhakdi currently owns 10.9% of capital in Vinamilk and wants to increase its ownership in the largest dairy firms of Vietnam. F&N now has a seat on the Vinamilk Board of Directors.

Nam Son