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Vinamilk för sale

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Vietnam’s government will divest all of its shares in Vinamilk, one of the country’s most sought-after equities, state media reported on Tuesday, in a rare sign of openness by the state towards relinquishing controls on major firms, Reuters says.

Vinamilk, or Vietnam Dairy Products JSC, the top listed company by market value, is 45 percent owned by the government, with the largest other shareholder F&N Dairy Investment, a unit of conglomerate Fraser and Neave, with 9.54 percent.

Vinamilk dominates the local market and its value has climbed 10 times over the past decade, from $500 million in 2006 to around $5.47 billion now, making it a rare success story in a state sector plagued by bad debt, inefficiency and low profitability.

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Updated: 16 oktober, 2015 — 06:37
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