Vietnam Livestock Corporation (VILICO) - Joint Stock Company agreed to acquire an unknown minority stake in GTNFOODS Joint Stock Company (HOSE:GTN) from shareholders on March 2, 2021. VILICO will issue shares to acquire the shares of GTNFOODS in a ratio of 1:1.6. Currently, GTNFOODS holds 74.49% stake representing 47 million shares in VILICO and Vietnam Dairy Products Joint Stock Company holds majority stake in GTNFOODS. Post merger, VILICO intends to delist GTNFOODS.

Due to the merger, all 47 million shares will be canceled and the charter capital of Vilico reduced. The deal is subject to approval from shareholders of GTNFoods and State Securities Commission of Vietnam. As of April 9, 2021, transaction has been approved by the shareholders of GTNFOODS Joint Stock Company.

The merger is expected to be completed in August 2021. The merger is expected to be completed in March 9, 2022.