Baker & McKenzie has advised Minh Phu – Hau Giang Seafood Processing Company (“MPHG”) on a VND400 billion-valued acquisition by Mitsui & Co (“Mitsui”).
MPHG is the major processing subsidiary of Minh Phu Seafood Corporation (“MPC”). The deal involved the purchase of more than 30 percent of MPHG’s shares by Mitsui through a private placement, which led to the conversion of the corporate form of MPHG.
“The success of this deal is a testament to our Firm’s ability to meet our client’s high expectations and to complete the negotiations and documentation for this acquisition within a very tight timeline,” said partner Nguyen Hoang Kim Oanh, who led the team.
MPC is one of the largest vertically-integrated Vietnamese shrimp processing companies and exporters, with operations across the full scope of aquaculture process, from post-larvae rearing, shrimp farming, processing and sale & export. Their total volume of exports is approximately 15 percent of the total exporting volume for Vietnam, and it is the market leader in the industry. MPC exports their products to the US, Europe, Japan, Korea, Canada and Australia, and has expanded their operations to reach customers across the globe. The acquisition by Mitsui represents a milestone and marks a strong development in the 15-year long partnership between the two corporations. It also show MPC’s ambition to expand its footprint in the world market.
The Baker & McKenzie team, led by partner Nguyen Hoang Kim Oanh and special counsel Nguyen Thuy Hang, was responsible for the deal negotiation and transactional documentation drafting.
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