HO CHI MINH, Vietnam, Dec. 2 /PRNewswire/ -- Masan Group Corporation (HOSE: MSN), one of the largest private sector groups in Vietnam, is pleased to announce that leading Japanese food and beverage company, House Foods Corporation (TSE: 2810) ("House Foods") has today signed an agreement to take a strategic stake of approximately US$20 million in the business, acquiring 9 million new ordinary shares at a price of approximately VND40,000 per share, representing a stake of around 1.85% of Masan Group Corporation's enlarged share capital. The transaction values Masan Group Corporation at over US$1 billion.

Madhur Maini, CEO of Masan Group, commented, "Masan will continue to partner with leading financial and strategic players to execute on our strategy of creating 'local MNCs' to execute Vietnam value."

House Foods is one of the largest F&B players in Japan with a dominant position in the curry category. Mr. Hiroshi Urakami, the President of House Foods Corporation, says, "We believe Vietnam has tremendous growth opportunities and that Masan Group is the ideal firm to partner with in the Vietnamese market."

ABOUT MASAN GROUP CORPORATION

Officially listed on the Ho Chi Minh Stock Exchange in November 2009, Masan Group Corporation was established with a vision to continue building leading businesses that benefit from Vietnam's emerging middle class consumer and private sector. The Group leverages its combination of both deep local insight and international best practices to deliver strong shareholder returns.

ABOUT HOUSE FOODS CORPORATION

Founded in 1913 and listed on both Tokyo and Osaka Stock Exchanges since 1971, House Foods' stable of products includes curry, seasonings, spices, packaged foods, pre-cooked foods, drinks, snacks and other products. It has offices, manufacturing facilities and R&D centres across Japan, the PRC, Taiwan and in the UK and US.

SOURCE Masan Group Corporation

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