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VietNamNews

Kinh Do appoints Japanese partner

Update: September, 28/2012 - 10:23

HCM CITY (VNS)— Confectioner Kinh Do (listed on HOSE as KDC) announced yesterday that Japanese company Ezaki Glico has become a strategic shareholder.

The foreign partner holds 14 million shares, or 10 per cent of KDC total's equity, which were acquired in the local firm's private placement earlier this year. The deal's value was not disclosed.

Also yesterday the two companies signed an agreement for KDC to distribute the partner's Pocky snack in Viet Nam. Other Glico products are planned to be sold by KDC to reach a sales turnover of VND1 trillion (US$46 million) within four years. — VNS

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