Kohlberg Kravis Roberts has sealed Vietnam’s largest private equity deal with an agreement to pay $159m for a 10 per cent stake in Masan Consumer, the country’s biggest producer of fish sauce.
The acquisition underlines how the biggest private equity groups are turning to emerging markets and seeking smaller deals as they count on rapid economic growth rather than high debt levels to generate big returns.
The Masan Consumer deal, expected to be announced on Wednesday, is KKR’s first in Vietnam, where the dominance of state-owned groups and economic instability has put off many private equity investors.
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