September 12, 2017 / 5:08 AM / 2 months ago

Vietnam's FPT sells 47 pct of trading unit to Taiwan's Synnex Tech

HANOI, Sept 12 (Reuters) - Vietnam’s technology firm FPT Corp on Tuesday said it would sell 47 percent of its trading unit to Synnex Technology International Corp in 2017.

FPT said it had signed an agreement to sell the stake in FPT Trading, whose valuation is no less than $80 million, to the Taiwan-based information technology distribution group.

FPT said it would receive 932 billion dong ($41.01 million), including the amount paid by Synnex and FPT Trading’s retained earnings. It was unclear how much FPT would receive from Synnex.

FPT also plans to sell up to 5 percent of FPT Trading to the unit’s employees, the statement said. ($1 = 22,725 dong) (Reporting by Mi Nguyen)

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