Sojitz plans 5 per cent stake purchase in Vietnam’s Masan High-Tech
The proposed purchase from Masan Horizon would be priced at or above the level paid by Pentagon-backed Elmet for its investment.
Masan Group said on November 9 that Japan’s Sojitz Corp had entered into a memorandum of understanding for the purchase of 5 per cent of Vietnamese tungsten producer Masan High-Tech Materials.
The seller would be Masan Horizon, which is wholly owned by Masan Group. According to Masan, the price must match or exceed what Pentagon-backed Elmet paid for its investment in Masan High-Tech Materials.
The proposed purchase comes after a separate announcement in September, when Masan High-Tech outlined plans to sell Elmet Group a stake of 4.99 per cent. That transaction valued the producer at about US$2.5 billion, putting the stake’s implied value at roughly US$125 million.
Masan said the parties were targeting definitive agreements before year-end. Due diligence and regulatory clearances remain conditions for that timetable.
