By Jiahui Huang
Bain Capital has agreed to make an at least $200 million equity investment in Vietnamese conglomerate Masan Group, marking the firm’s first investment in the Southeast Asian market.
Proceeds from the transaction will be used to strengthen Masan Group’s financial position and delever its balance sheet, according to a joint statement by the two companies on Monday.
Masan Group, which has business interests spanning food and beverages, financial services and telecommunications, is also in talks with other investors to raise that investment to as much as $500 million.
Bain’s equity investment is in the form of convertible dividend preference shares that will be issued at 85,000 Vietnamese dong ($3.50) each, which can be converted into ordinary shares at a 1-to-1 ratio, the statement said. The transaction is expected to close by the end of 2023.
Jefferies Singapore acted as financial adviser to Masan Group.
“Masan is one of the most trusted brands in Vietnam with significant reach to households with the ability to anticipate consumer tastes and build out an innovative product pipeline to meet those needs,” said Barnaby Lyons, a partner at Bain Capital.
Write to Jiahui Huang at [email protected]
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