Tuesday, December 15, 2020, 15:14 GMT+7
This undated supplied photo is pictured inside a factory of Bien Hoa Packaging in Vietnam.
TCG Solutions Pte, a subsidiary of Thailand s conglomerate Siam Cement Group (SCG), has announced its plan to purchase over 12 million shares, or a 94.11 percent stake, of Bien Hoa Packaging (Sovi).
The transaction is set to take place from December 16 to 31.
Given the current market price of VND81,500 (US$3.5) per Sovi share, TCG is expected to spend more than VND978 billion (US$42.23 million) on the deal.
Earlier, Sovi paved the way for the acqusition by raising its foreign ownership limit to 100 percent in July.