Jardine Cycle and Carriage has reached an agreement to acquire a 5.53% stake of Vietnam Dairy Products Joint Stock Company (Vinamilk).

Jardine Cycle and Carriage is a conglomerate involved in auto distribution and retail accounts.

“Jardine Cycle and Carriage has reached an agreement to acquire a 5.53% stake of Vietnam Dairy Products Joint Stock Company (Vinamilk).”

The purchase consideration for the transaction includes a cash payment of $616m.

The acquisition is expected to help the conglomerate to invest in market-leading companies in South-east Asia and its exposure to the Vietnamese economy.

Asrapport Dining Co has reached an agreement to acquire 17.1% stake of Furutta Furuta.

Furuttu Furuta is a food ingredients supplier based in Japan, while tAsrapport Dining Co operates and manages food service franchise chain stores.

The purchase consideration for the acquisition is CNY200m ($1.76m).