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Stock impact report

CVC-linked investment unit sells 5% stake in Vietnam's Asia Commercial Bank for $220 mln [Reuters]

Hormel Foods Corporation (HRL) 
Last hormel foods corporation earnings: 2/20 06:30 am Check Earnings Report
US:NYSE Investor Relations: investor.hormelfoods.com
Company Research Source: Reuters
biggest non-state owned commercial lender, Asia Commercial Bank (ACB), for $220 million, according to a company filing and a person with knowledge of the matter. The sale confirmed an early January report by Reuters that the Europe-based alternative investment firm was in talks with an adviser to explore the sale of its stake in the Ho Chi Minh-listed bank following approaches from potential buyers. A company filing showed Whistler Investment Ltd sold a 5% stake in ACB for a total of $220 million. Whistler Investment is an investment vehicle under CVC, according to the person with knowledge of the matter. Buyers of the stake are two U.S.-based financial institutions, the source added. The sale of the stake was done via two trades fetching $160 million and $60 million respectively, the person said, declining to be named as the person was not authorised to speak to the media. CVC still holds a 4.99% stake in the bank via another investment vehicle called Sather Gate, the sourc Show less Read more
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