Signing ceremony of transferring Nghe An Tate & Lyle Sugarcane Company to TH Milk Joint Stock Company

(Baonghean) -Yesterday morning, April 20, in Hanoi, the signing ceremony of the transfer of Nghe An TATE & LYLE Sugarcane Company to TH Milk Joint Stock Company took place. Attending and witnessing the signing ceremony were Mr. Ho Xuan Hung - Deputy Minister of Agriculture and Rural Development; Mr. Phan Dinh Trac - Member of the Party Central Committee, Secretary of Nghe An Provincial Party Committee; representatives of Bac A Commercial Joint Stock Bank and Nghe An Tate & Lyle Sugarcane Company.

The bidding for the transfer of ownership of Nghe An Tate & Lyle Sugarcane Company to TH Group (Vietnam) was conducted according to a professional, public and transparent international auction process. The bidding process was consulted by the world's leading professional consulting firms: Rabobank International Bank, Rothchild Bank and Bac A Bank; Price Waterhouse & Coopers Company, Freshfield Law Consulting Company and Baker & McKenzie Company.

After many rounds of review and appraisal, TH Milk Joint Stock Company won the bid. After receiving the transfer of the company, TH Group will review the entire situation of Nghe An Tate & Lyle Sugarcane Company, propose a strategy to develop the sugarcane growing area; apply high technology to planting and caring for the raw material area, open up opportunities, create momentum to bring the Tate & Lyle Sugarcane project to a new level of development; improve sugarcane cultivation efficiency, and improve farmers' income.

This transfer will bring great significance to the people of Phu Quy in particular, and is a step in the right direction in terms of vision and long-term strategic development orientation in the planning and socio-economic development policy of the Western Nghe An region in general.

Thanh Phuc