Monday 08 August 2022

State to retain 51% stake in Vinacafe

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HANOI, Vietnam – The Viet Nam National Coffee Corporation (Vinacafe) will be equitised in 2017, following a directive of the government on restructuring the HCM City-based company. Prime Minister Nguyen Tan Dung said the State will retain a stake of 51 per cent in the company after it is equitised.

Eighteen subsidiaries, where Vinacafe owns the entire equity, will be privatised in 2016.

The subsidiaries are: Viet Duc Coffee, Viet Thang Coffee, Ea Sim Coffee, and Ea Tieu Coffee, in addition to Coffee No 715B, D’rao Coffee, Coffee No 49, and Coffee No 52.

The other subsidiaries are Coffee No 716, Coffee No 720, Coffee No 721, and Ia Blan Coffee, apart from Cofee No 705, Coffee Ia Grai, Coffee No 704, and Coffee No 731. Coffee No 734 and Dak Nong Coffee complete the list of eighteen subsidiaries.

Vinacafe will maintain 51 per cent stakes in these firms after they are equitised.

Next year, three other Vinacafe affiliates, including Coffee No 715A, Coffee No 715C and Coffee Ea Ktur, will be changed from single-member limited companies into entities with two members or more.

This process is aimed at attracting investors to develop material areas and promoting the role of local residents in the processing and market development phases.

SourceVNS

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