VLC Board Approves Vinabeef Tam Dao Complex Sale to JVL for VND 1,173 Billion

Overview

VLC (UPCoM: VLC), the Vietnam National Livestock Corporation, has approved the transfer of its Vinabeef Tam Dao cattle breeding and processing complex to JVL (Viet Nhat Livestock Co., Ltd.) for VND 1,173 billion (approximately USD 47 million). The deal, signed by Chairwoman Mai Kieu Lien, is expected to close following legal procedures and will provide a substantial cash inflow to VLC.

Key Facts

• VLC’s board approved the transfer on June 9, 2026, via a resolution signed by Chairwoman Mai Kieu Lien.
• The transaction value is VND 1,173 billion, inclusive of VAT and all project costs incurred to date.
• The asset is the Vinabeef Tam Dao complex, covering 75.6 hectares in Tam Dao, Vinh Phuc province.
• The complex includes a cattle farm with capacity for 10,000 head and a processing plant with annual capacity of 30,000 head.
• At full operation, the complex is expected to supply about 10,000 tons of beef products annually.
• The project was completed and fully operational from May 2025, having broken ground in March 2023.
• The buyer, JVL, is a joint venture between VLC (51%) and Japan’s Sojitz Corporation (49%), with charter capital of over VND 2,900 billion.

What Happened

On June 9, 2026, the Board of Directors of VLC passed a resolution approving the transfer of the Vinabeef Tam Dao cattle breeding and processing complex to JVL. The resolution, signed by Chairwoman Mai Kieu Lien, sets the final transfer price at VND 1,173 billion, which includes VAT and all construction and incidental costs up to the contract signing date. The board has authorized the General Director to execute the contract and complete all legal formalities with relevant authorities.

The Vinabeef Tam Dao complex is a state-of-the-art facility built on 75.6 hectares in Tam Dao, Vinh Phuc province. It comprises a cattle farm capable of housing 10,000 head and a processing plant with an annual capacity of 30,000 head. The complex uses technology and equipment imported from Europe and Japan, and follows Japanese cattle-raising standards adapted to local conditions. It began operations in May 2025.

JVL, the buyer, was established in September 2021 and is headquartered in Hanoi. It is a joint venture between VLC (51%) and Japan’s Sojitz Corporation (49%). As of July 2024, JVL had charter capital of over VND 2,900 billion. Since February 2026, its General Director and legal representative has been Mr. Inoue Koji.

Market Context

VLC shares closed at VND 12,500 on June 10, 2026, unchanged from the previous session, with low trading volume of 53,700 shares. The stock trades on UPCoM, Vietnam’s unlisted public company market, and has limited liquidity. The sale of a major asset for nearly VND 1.2 trillion represents a significant corporate event that could impact VLC’s financial position and future strategy.

Strategic Significance

The transaction allows VLC to monetize a recently completed large-scale investment, generating substantial cash proceeds. Given that VLC holds a 51% stake in JVL, the sale effectively transfers the asset to a partially owned entity, potentially consolidating operations within the group. The deal may also reflect VLC’s strategy to focus on core activities or reduce debt, as the company has been expanding its livestock operations. The involvement of Sojitz, a major Japanese trading house, underscores the international partnership underpinning the project.

What to Watch

• Completion of legal procedures and actual cash receipt timeline.
• VLC’s use of proceeds: debt repayment, new investments, or dividend distribution.
• JVL’s operational performance post-acquisition and its impact on VLC’s equity income.
• Any further asset transfers or restructuring moves by VLC.
• VLC’s Q2 2026 financial statements for recognition of the gain.