Singapore's investment arm buys stake in Vietnamese seafood group

Business News

Jun 14, 2007, 0:19 GMT

Singapore - Singapore's investment arm, Temasek Holdings, has purchased a 10 per cent stake in Vietnam's largest shrimp processing company, a statement said Thursday. It did not disclose the value of the stake in Minh Phu Seafood Joint Stock Company, which is listed on the Hanoi Securities Trading Centre. Minh Phu exports to markets in the United States, Japan, Australia, Europe and Canada. 'This investment represents Temasek's confidence in the growth potential of Vietnam's aquaculture export industry,' the statement said. Temasek's involvement will help transform Minh Phu into a global corporation, said chairman and chief executive Le Van Quang. © 2007 dpa - Deutsche Presse-Agentur

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