TOKYO -- Shibusawa Warehouse plans to take a 35% stake in Hanoi-based logistics company Vinafco this month, aiming to strengthen operations in northern Vietnam.
The Japanese company intends to purchase Vinafco shares from real estate firms and other shareholders for slightly more than 1 billion yen ($9.2 million). Its interest will be kept at 35% for the time being, considering Vietnam has limits on foreign ownership of domestic businesses. But Vinafco may be turned into a subsidiary in the future if the restrictions are loosened.
