Frasers takes majority stake in Vietnamese developer

George Sell By George Sell
1 week ago | Updated 1 week ago

Vietnam: Frasers Property has entered into a conditional share purchase agreement with Tran Thai Land to acquire 24 million ordinary shares of developer Phu An Khang.

The US$18 million purchase represents 75 per cent of the issued share capital of Phu An Khang, giving Frasers a controlling stake.

It is intended that Phu An Khang will undertake the development of a mixed-use development plot in district 2, Ho Chi Minh City.

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