Link: https://links.sgx.com/1.0.0/corporate-announcements/A8VE3MYTB8CDH2PJ/fa4e27977961eeeb3cbafb0b09c9ed936e415800e1397b06cee8a08a0185311c

Summary:

• Fraser and Neave plans to acquire up to an additional 4.6% stake in Vietnam Dairy Products (Vinamilk), raising its effective interest from 20.39% to 24.99% and deepening exposure to Vietnam’s fast-growing dairy market.

• The purchase of up to 96.1 million shares from Jardine unit Platinum Victory is expected to be earnings-accretive and funded through a mix of internal resources and borrowings.

• F&N says the move underscores its long-term partnership with Vinamilk and will create opportunities to collaborate across dairy farming, manufacturing, innovation and distribution in Southeast Asia.

• Management currently has no intention to buy more Vinamilk shares in a way that would trigger a mandatory tender offer under Vietnamese law.

• The deal remains subject to completion conditions, and F&N has urged shareholders and investors to exercise caution when dealing in its shares pending further announcements.