Vietnam Construction and Import-Export Joint Stock Corporation (Vinaconex) is in talks to sell its 70 per cent stake in Cam Pha Cement.

According to reports by Vietnam News Brief Service, the shares are to be sold to an overseas investor at below the par value of VND10,000/share but no lower than Cam Pha’s book value.

Two foreign parties are said to be interested and are expected to put inject cash to restructure the cement producer’s debts. The deal is expected to be concluded this year.

Vinaconex plans to continue divesting from non-core businesses to focus on its core businesses lines including construction and real estate activities.