Thai cement giant buys 7th packaging firm in Vietnam
By Dat Nguyen December 23, 2020 | 01:32 pm GMT+7
The headquarter of Bien Hoa Packaging is pictured in Dong Nai Province, southern Vietnam. Photo courtesy of the company.
Thai cement giant SCG Group has acquired its seventh packaging company in Vietnam, Bien Hoa Packaging, at a cost of VND2.07 trillion ($89 million).
The company owns a 94.11 percent stake in the company through its subsidiary Thai Containers Group Company Ltd, according to a recent statement.
It paid VND171,450 ($7.38) for each share of Bien Hoa Packaging, 84 percent higher than the current market price.
Bien Hoa’s clients are mainly high-growth consumer brands that are multinationals, the statement said.