Frasers takes majority stake in Vietnamese developer
George Sell
Uploaded 13 May 2018
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.
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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.
