AIF Group has purchased a major stake in Laos’ state-owned post company, Enterprise de Postes Laos.
A signing ceremony was held on 28 April at the Ministry of Finance conference hall, with Entreprise des Postes Lao represented by the Head of the Development and Insurance Department, Ministry of Finance, Dr. Sonephet Inthavong, and Mr. Lattanamany Khounnivong, Senior Vice President on Infrastructure Business of AIF Group.
The signing was witnessed by Mr. Bounpone Vannachit, Deputy Minister of Finance and Dr. Santisouk Sommanivong, Deputy Minister of Technology and Communications, and other ranking officials, according to a Ministry press release.
The agreement comes after a notice issued by the Prime Minister’s Office approving the sale of a 51% share of Entreprise des Postes Lao to AIF Group under a subsidiary company, Logistic Venture.
The Ministry of Finance retains a 49% share, with the enterprise to be operated as a joint venture.
Logistic Venture is a wholly-owned subsidiary of AIF Group, which operates in a variety of domestic and foreign industries including banking, services, transportation, telecommunications, information technology, and software development.