Jardine Cycle & Carriage Group, parent company of Platinum Victory, announced this information on the Singapore Stock Exchange early this week. Platinum Victory and F&N Dairy Investments signed a transfer agreement for over 96 million shares, representing 4.6% of Vinamilk's total equity. The deal is valued at approximately 6,011 billion VND, equivalent to 228 million USD. This implies a transfer price of 62,555 VND per share, slightly higher than Vinamilk's closing price during the 15/12 trading session.

The transaction between the two major shareholders is expected to conclude within 35 days from the date of their announcement. If successful, F&N will increase its ownership stake to 24.99%, thereby solidifying its position as the largest foreign shareholder in Vinamilk. Conversely, Platinum Victory will reduce its ownership in Vinamilk from 10.62% to 6.02% and withdraw its capital representative from the Board of Directors. Jardine Cycle & Carriage Group stated that this transaction aligns with its strategy to "build a focused investment portfolio to increase shareholder value."

This transaction follows several unsuccessful attempts by the Thai conglomerate to acquire shares on the stock market. The most recent occurred a week ago when they planned to purchase approximately 21 million Vinamilk shares, but "market conditions were not suitable."

F&N operates within the Thai Beverage ecosystem, owned by Thai billionaire Charoen Sirivadhanabhakdi. F&N currently holds stakes in Vinamilk through two legal entities: F&N Dairy Investments (17.69%) and F&N Bev Manufacturing (2.7%). Thai Beverage is also the parent company of Sabeco, following an acquisition deal for 53.6% of its capital in late 2017. Since acquiring Sabeco, the group has received nearly 15,500 billion VND in dividends.