Wednesday, 30 September 2026 · SEA Deal Ticker

SEA Deal TickerWed, 30 Sept

KV Asia cashes out Victoria Care; why is Korea buying Saigon metal?

Five years, US$43M in, US$70M out: KV Asia sells its stake in Indonesia's Victoria Care — DealStreetAsia · Permalink
KV Asia Capital paid US$43 million in 2021 for 25% of Victoria Care, maker of the Miranda and Herborist beauty brands. It sold the stake for about US$70 million (Rp1.25 trillion) to PT Sukses Sejati Sejahtera, which now owns 84.95%.
Positive-sum angle: A founder weighing private-equity money now has a real number: a five-year minority stake returned about 1.6 times its cost, and the existing majority owner, not a stranger, bought it back.
Rare earths without China: Korea's LS Eco Energy pays US$8.3M for a Saigon samarium maker — TNGlobal · Permalink
LS Eco Energy is buying 58% of Global Shre Metal for US$8.3 million (₩11.6 billion). The Ho Chi Minh City plant will make 240 tonnes a year of samarium, a rare-earth metal for defence and high-tech parts, from December.
Positive-sum angle: Western defence buyers want rare earths from outside China, and Vietnam just took its second foreign metals deal in a week; suppliers of chemicals, machining and freight around Ho Chi Minh City have a new kind of customer.