Masan Group Nabs $100M From Mount Kellet Capital

U.S. private equity firm Mount Kellett Capital Management will invest $100 million in a unit of Vietnamese conglomerate Masan Group, Reuters said. After the deal closes, Mount Kellett will have a 20% stake in Masan Resources, which owns a mine in northeastern Vietnam, Reuters said.

(Reuters) – Vietnamese private sector conglomerate Masan Group said on Monday that funds advised by U.S. private equity firm Mount Kellett Capital Management have agreed to invest $100 million in its unit Masan Resources.

After the transaction, Mount Kellett will have a 20 percent stake in Masan Resources, which owns a mine in northeastern Vietnam called Nui Phao.

Masan Group will own 64 percent while a third company, Tiberon Minerals, will hold the balance 16 percent.

The Nui Phao mine, which is expected to start operations in January 2013, will produce tungsten, copper, fluorspar and bismuth. When fully operational, the mine is expected to generate over $300 million in annual revenue, Masan Group said.

JPMorgan acted as sole advisor to Masan Group for the Mount Kellett transaction.

(Reporting by Charmian Kok; Editing by Kevin Lim)