May 14, 2021

 

Vietnam's Masan said to be exploring options for feed business


 

Vietnam's Masan Group Corp. is exploring options for its animal feed unit that could include selling a stake to a strategic partner, according to people familiar with the matter, Bloomberg reported.


The company is mulling introducing fresh investment in the business, which is currently held under its listed Masan MeatLife Corp. unit, said the people, who asked to remain anonymous as the information is private. It is seeking to raise as much as US$1 billion from a deal.


Masan is also said to be considering a possible initial public offering for the feed unit. The company's management believes Masan MeatLife is under-appreciated by the market, one the persons said.


Discussions are at an early stage and may not lead to any transaction. A representative for Masan Group declined to comment.


According to its website, Masan MeatLife is one of the biggest integrated feed-farm-food business platforms in Vietnam. In 2015 the company merged its two feed businesses, Anco and Proconco, and in 2018 starting selling fresh, chilled meat under the MeatDeli brand.