SINGAPORE (Dec 9): Fraser & Neave’s two wholly subsidiaries F&N Dairy Investments and F&N Bev Manufacturing are seeking to each acquire a 2.7% stake in Vinamilk, or 39.2 million shares, from the Vietnamese Government for $700 million. The results are expected to be out on Dec 21.

Vinamilk is Ho Chi Minh Stock Exchange's largest company by market capitalisation and the largest dairy company in the country.

F&N already has a 10.95% stake in Vinamilk, valued at $1.4 billion, and the additional 5.4% stake, if their bids are successful, would increase its investment in Vinamilk to over $2 billion.

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