:. Food Industry News

Categories: Mergers and Acquisitions

South Korean Lotte Raises Stake in Vietnamese Confectionery Company

Source: FLEXNEWS
28/05/2008

28 May 2008 – Sources report that Lotte Confectionery Co, South Korea's top sweetmaker, increased its share in Bien Hoa Confectionary from 30 to 35.6% for an undisclosed amount.

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Lotte is now the biggest foreign shareholder in the Vietnamese confectionery and bakery company, also known as Bibica.

Dong Nai-based Bibica’s net profit fell 32% in the first quarter of 2008 compared to the same period a year earlier.

Shares in the Ho Chi Minh-listed company traded at their lowest in over a year following the news of Lotte's increased involvement in Bibica.



 



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