- VinaCapital Vietnam Opportunity Fund (VOF) has announced, along with co-investment partner Daiwa PI Partners (DPIP), the completion of the divestment of International Dairy Products (IDP) to a consortium led by Blue Point.

VOF, which is the flagship fund of VinaCapital, said it and DPIP completed the divestment of the remaining stake in IDP to Blue Point at an additional premium relative to the previous partial exit value, and received $45.4m in net proceeds for the remaining 37% stake in the company.

The uplift to VOF's net asset value from this entire divestment, which includes both the partial divestment and this remaining stake, is 14 US cents per share.

This was reflected in published NAV's since 10 July, the date at which contracts were signed, part of the stake was transferred and the transaction was subject to only minor conditions, VOF said.

VinaCapital chief investment officer Andy Ho said: 'We are pleased to have accelerated the divestment of IDP to Blue Point, who are a Vietnamese financial and strategic investor in the consumer goods and dairy products sector.'

He added: 'The proceeds from this divestment have been earmarked for investment opportunities that our team have been evaluating for some time, as well as to support the share buyback programme and ongoing dividend commitments to our shareholders.'

At 9:49am: [LON:VOF] Vinacapital Vietnam Opportunity Fund LD share price was -3.75p at 317.25p

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