KKR backs Masan

HANOI: Vietnamese food producer Masan Group Corp said yesterday that it has received a $250 million investment pledge from global investor KKR & Co LP, in the latest move by a foreign firm seeking to tap Vietnam’s fast-growing middle class.

Masan in a statement said KKR has agreed to buy $100 million worth of shares from Danish private equity firm PENM Partners, and buy 7.5% of Masan NutriScience for $150 million.