13 November 2014
Clifford Chance advises Mondelēz on its proposed acquisition of 80% stake in Vietnam snack company for US$370 million
Leading international law firm Clifford Chance has advised Mondelēz International on its proposed acquisition of an 80% stake in Kinh Do Corporation, a leading Vietnamese snack company for US$370 million. The transaction is subject to a number of conditions including obtaining approval by Kinh Do's shareholders, as well as the restructuring by Kinh Do of its snacks division into one business entity, BKD.
Mondelēz is a Nasdaq-listed leading snacks producer with brands such as Cadbury chocolates, Oreo cookies, Ritz crackers. Kinh Do generates approximately US$175 million in annual revenue from its top-selling biscuits, soft cakes and seasonal mooncakes businesses.
"I'm delighted to have worked with Mondelēz on this important strategic investment," said Corporate partner Simon Clinton who led on this transaction. "Global corporations are keen to tap into the growing consumer spend in South East Asia as a driver of growth. Vietnam will also be an interesting market to watch, as the Vietnamese government's privatisation programme may throw up a lot of attractive M&A opportunities."
Simon was supported by lead associate Chua Si Wei and partners Valerie Kong (M&A), Ling Ho (Intellectual Property) and Richard Blewett (Antitrust). VILAF advised Mondelez on matters of Vietnamese law.