Related Keywords: biggest garment supplier, Itochu Corp, Japan, multi-sectoral conglomerate, second-biggest cash earner, state-run Vietnam National Textile And Garment Group, trade pacts, Trans-Pacific Partnership, Vinatex
Itochu Corp, the third largest multi-sectoral conglomerate in Japan acquires 5 percent stake in the state-run Vietnam National Textile And Garment Group (Vinatex) with a purchase price of more than 1 billion yen (US$9.25 million).
Itochu Corporation became the first non-Japanese financial institution to invest in a big state-owned enterprise (SOE) of Vietnam. Itochu acquired a certain percentage of Vinatex's shares through public trading channel, not as a strategic investor, confirmed Tuoi Tre, Tran Quang Nghi, Chairman of Vinatex.
