Taiwan buys into VietnamThis article was originally published in Foodnews
TAIWANESE beverage and snack manufacturer Uni-President has acquired a 15% stake in Vietnamese drinks maker Saigon Beverages Joint-Stock Co (Tribeco). UniPresident will become Tribeco's second strategic shareholder, after domestic confectioner Kinh Do Corp with 35.4%. The deal is estimated at VND35 billion (US$2.2 million). UniPresident will be shutting down its Vietnamese beverage manufacturing facilities in Binh Duong Province to focus on Tribeco. Tribeco is commissioning a VND300 billion soft drinks plant in the same province in August, and construction of a VND90 billion plant in the northern province of Hung Yen starts next month.