Malaysia firm sells 30% stake in Vietnam water supplier for $20 mln
Malaysia-based Rohas Tecnic Berhad (RBC) will sell its 30% stake in Phu My Vinh Construction and Investment Corporation, a Vietnam-based water supply company, for VND500 billion ($20 million).
In a Monday statement, Rohas Tecnic Berhad said it has entered a binding term sheet with Korea Water Resources Corporation (K-Water), a firm wholly-owned by the South Korean government. The two sides will further negotiate details of the deal.
A water factory of Phu My Vinh in Long An province, Mekong Delta, southern Vietnam. Photo courtesy of the firm.
Phu My Vinh was established in 2005, with principal activities including investment, construction, and operation of water treatment plants and supply systems.
In March 2022, Spain-based GS Inima acquired a 30% stake in the Vietnamese firm. As of the time, GS Inima, RBC, and Vietnamese investors held 30%, 30%, and 40% stakes at the company.
Phu My Vinh’s portfolio includes three water supply factories in the Mekong Delta province of Long An, namely Duc Hoa 3, Hoa Khanh Tay, and Phu My Vinh 2. The daily capacities of the three facilities are 30,000; 80,000; and 200,000 cubic meters.
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