Vietnam's farm ministry has allowed Thong Nhat Production and Investment Co to buy 63.74 percent in registered capital of Vietnam Tea Corp (Vinatea), the country's biggest tea exporter, the Vietnam Economic Times newspaper reported, without citing any sources.
Thong Nhat will buy the stake immediately after Vinatea launches its planned $5.36 million initial public offering for 31.86 percent of the company, the report said, without giving a date for the float.