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KDC gets approval to buy 65% stake in vegetable oil firm

Update: October, 04/2016 - 09:40
Vegetable oil products of Tuong An on shelves. — File Photo

HCM CITY – The State Security Commission has green lighted its purchase of a 65 per cent stake in Tường An Vegetable Oil Joint Stock Company, food producer Kido Corporation has announced.

Kido will buy over 12.33 million shares.

In September Kido made the bid to acquire Tuong An’s shares, and the latter agreed with the main aim of boosting co-operation between the two companies to help it grow further.

Kido had just finished selling the remaining 20 per cent of its snack business to a foreign investor for VNĐ2 trillion.

Kido now makes products like ice-cream, cooking oil and noodles. — VNS





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