Vietnamese private sector conglomerate Masan Group said on Monday that funds advised by U.S. private equity firm Mount Kellett Capital Management have agreed to invest US$100 million in its unit Masan Resources.
After the transaction, Mount Kellett will have a 20 percent stake in Masan Resources, which owns a mine in northeastern Vietnam called Nui Phao.
Masan Group will own 64 percent while a third company, Tiberon Minerals, will hold the balance 16 percent.
The Nui Phao mine, which is expected to start operations in January 2013, will produce tungsten, copper, fluorspar and bismuth. When fully operational, the mine is expected to generate over $300 million in annual revenue, Masan Group said.
JPMorgan acted as sole advisor to Masan Group for the Mount Kellett transaction.
US private equity firm invests $100 mln in Vietnam's Masan
Vietnamese private sector conglomerate Masan Group said that funds advised by U.S. private equity firm Mount Kellett Capital Management have agreed to invest US$100 million in its unit Masan Resources.
Source: Reuters
