Vietnam Infrastructure Limited has announced that it is divesting its entire stake in the Vina-CPK Limited Company (“Vina-CPK”). The company is located in Vinh Phuc, Vietnam, and operates industrial park and infrastructure projects with an investment license of up to 49 years which was acquired by VNI in 2009.
VNI will dispose of its entire stake to Phuc Hung Import Export Company Limited, at a sale price of USD22.1 million at today’s exchange rate, which will be paid in cash. Compared to the audited NAV attributable to the investment of USD21.2m as at 31 December 2015, VNI has made a profit on the transaction of approximately USD935,000. At the time of this announcement 80% of the proceeds have been received, with the remaining 20% to be received within the next 6 months. The proceeds of the transaction will be used to make capital distributions to shareholders.
VNI : Vietnam Infrastructure sells Vina-CPK