Vietnam firm eyes transferring sugar mill in Laos
Hoang Anh Gia Lai Group has finally confirmed it is negotiating with Thanh Thanh Cong to transfer its sugar mill in Laos to TTC – both companies are giants in their field, Vietnam’s local media reported this week. TTC is known as the leading player in the industry as it holds the controlling stake in many large sugar companies, including Thanh Thanh Cong Tay Ninh, Gia Lai Hydropower Sugar, Bien Hoa, Ninh Hoa and Phan Rang Sugar Company, Vietnamnet reported. HAGL has 6,000 hectares of sugarcane in Laos, with favourable conditions which allow yields of 120 tonnes per hectare. Lao Investment Promotion Law’s Article 65 permits investors to handover, transfer, withdraw or increase capital of their enterprises. The law’s Article 75 also states that shareholders can also be changed.
