In December 2025, F&N Dairy Investments announced a deal to acquire over 96 million shares, equivalent to 4.6% of Vinamilk’s total shares, from JC&C (parent company of Platinum Victory). The transaction, valued at approximately VND 6 trillion (USD 228 million), would increase Fraser & Neave (F&N)’s stake in Vinamilk to nearly 25%, making it the second-largest shareholder after SCIC, if successful.
Conversely, Platinum Victory’s ownership in Vinamilk will decrease from 10.62% to 6.02%, and it will withdraw its capital representative from the Board of Directors. JC&C stated that this transaction aligns with its strategy of “building a focused portfolio to maximize shareholder value.”
The influence of billionaire Charoen Sirivadhanabhakdi at Vinamilk began after TCC Holding acquired F&N in 2013 for USD 11 billion. At that time, F&N Dairy Investment was already a major shareholder in Vinamilk. Through F&N, the Thai billionaire aims to dominate the non-alcoholic beverage and dairy markets in Southeast Asia, with Vinamilk as a key long-term strategic pillar.
To date, Vinamilk, the leading dairy company, has generated the highest dividend income for Charoen Sirivadhanabhakdi in Vietnam, totaling approximately VND 16.5 trillion. In comparison, Sabeco has yielded around VND 15.5 trillion.
Vinamilk: Unlocking Creative Innovation Through a Legacy of Brand Heritage
Vinamilk has been honored in two prestigious categories at the 2025 Vạn Xuân Awards. Ms. Mai Kiều Liên was recognized as an Inspirational Leader for her innovative leadership and fostering a culture of creativity within Vinamilk. Simultaneously, Vinamilk Green Farm, the first brand to rebrand following the company’s repositioning strategy, was celebrated as a Pioneer in Creative Branding.
The Silent Battle for Vinamilk Reaches Its Climax: Thai Billionaire Takes the Lead – Will the Historic Sabeco Takeover Saga Repeat?
The long-standing silent battle for control of Vinamilk has nearly concluded with the recent share transfer between F&N and JC&C, tipping the scales in favor of billionaire Charoen Sirivadhanabhakdi. This move not only marks the end of a protracted struggle but also ushers in a new era, as Thai investors have never concealed their ambitions to dominate the market.
Major Deal Involving Novaland and Vinamilk
Both NovaGroup and Diamond Properties are linked to Mr. Bui Thanh Nhon, Chairman of Novaland’s Board of Directors, who will receive nearly 164 million additional NVL shares. F&N Dairy Investments Pte. Ltd. will invest approximately VND 6.011 trillion to increase its stake in Vinamilk to 24.99% of the charter capital.
Vietnam’s Luxury Portfolio: Thailand’s Third-Richest Tycoon Holds Nearly $10 Billion in Assets, Including 25% of Vinamilk, Control Over Sabeco, MM Mega Market, MeLinh Point, and Prime Real Estate with GELEX
Through a series of large-scale M&A deals spanning over a decade, billionaire Charoen Sirivadhanabhakdi’s TCC Group has established a closed-loop business ecosystem in Vietnam. This ecosystem spans manufacturing, packaging, distribution, and retail, with total investments reaching billions of USD.
Vinamilk Solidifies Its Leadership in ESG Excellence
Vinamilk solidifies its pioneering position with a series of prestigious awards in sustainable development and corporate governance in 2025. From the Listed Company Awards (VLCA) 2025 to the Vietnam Sustainability Index (CSI) 2025, the company consistently garners recognition across key categories, underscoring its robust ESG strategy implemented with tangible impact and aligned with long-term competitive capabilities.
