Sojitz has signed a memorandum of understanding to acquire a 5% stake in MSR, a leading Vietnamese tungsten producer. Following the acquisition, it plans to sell MSR's tungsten products to customers in Japan.
Masan Group announced that Sojitz has signed a memorandum of understanding to acquire a 5% stake in MSR, a Vietnamese tungsten producer, from Masan Horizon, a wholly owned subsidiary of Masan Group.
The acquisition price is expected to be no lower than the price at which Elmet Group, backed by the U.S. Department of Defense, acquired its stake in MSR.
In September, MSR sold a 4.99% stake to Elmet Group in a transaction that valued the company at approximately $2.5 billion.
Subject to due diligence and regulatory approval, Sojitz and Masan aim to sign a definitive agreement by the end of the year.
Sojitz plans to sell MSR's tungsten products to Japanese customers in sectors including semiconductors, AI infrastructure, aerospace, energy and automotive manufacturing.