30% of charter capital of FPT retail transferred to investment funds

Vietnam National Petroleum Group (Petrolimex) plans to buy the entire stake Binh Son Refinery and Petrochemical Co., Ltd. (BSR) - the operator of Vietnam's first oil refinery Dung Quat will put on sale at its initial public offering (IPO) to become a strategic partner of the refinery. Dung Quat Refinery signs transfer deal with Petrolimex It was announced by Petrolimex chairman Bui Ngoc Bao at the signing ceremony of a co-operation agreement between Petrolimex and BSR on August 10. However, the specific stakes to be sold at the IPO have yet to be disclosed. According to the deal, Petrolimex will buy BSR’s shares after it conducts the equitisation and completes its IPO. Besides, Petrolimex confirms giving top priority to the sales of petrol, LPG, and other petrochemical products of Dung Quat Refinery. Bao stated that Petrolimex plans to put up 20 per cent of its stakes for sale to mobilise capital for the BSR acquisition. When asked about BSR’s preparations for its IPO, Tran Ngoc Nguyen, general director of BSR, said that the IPO is expected to take place in the fourth quarter of this year. The company’s stock offering will be divided into two steps. In particular, at the end of 2017, BSR will sell its stocks to its staff and conduct its IPO. Next, BSR will sell stakes to strategic shareholders within 12 months of its IPO. “As BSR…... [read more]

Increased merger and acquisition (M&A) activities can spur infrastructure development in Vietnam, a current growth imperative, Planning and Investment Minister Nguyen Chí Dung said yesterday. Le Trong Minh, Editor in Chief of the Vietnam Investment Review, speaks at the annual Vietnam M&A Forum on August 10, 2017 in HCM City. He told an M&A forum in Hanoi that the sector has entered a new chapter in the 2014 to 2018 period, riding what experts have called the second wave of investment. The capital inflow from foreign investors during this period is expected to reach US$20 billion, 25 per cent of which could happen this year. This is largely driven by equitisation commitments of major State owned enterprises, the rise of private sector and steady investment from foreign economic entities. The Ministry of Planning and Investment (MPI) has concluded that in order to catalyse growth, investment in the form of M&As in the infrastructure sector needs to increase and expand across many branches of the economy. The projects would include upgrading roads, railways, airports and seaports to global standards, as well as establishing a stable network of real estate and retail conglomerates. Prime Minister Nguyen Xuan Phuc had also emphasised this during his official visit to the US and Japan last June, informing hosts that Viet Nam was pushing for M&A activities involving divestments in key sectors of the economy such as construction, retail, tourism or communications by State owned enterprises. Le Trong Minh, Editor in Chief of the Vietnam Investment…... [read more]

​Le Trong Minh, Editor in Chief of the Vietnam Investment Review, speaks at the annual Vietnam M&A Forum on August 10, 2017 in HCM City (Photo: tinnhanhchungkhoan.vn) Hanoi (VNA) - Increased merger and acquisition (M&A) activities can spur infrastructure development in Vietnam, a current growth imperative, Planning and Investment Minister Nguyen Chi Dung said on August 10. He told an M&A forum in Hanoi that the sector has entered a new chapter in the 2014 to 2018 period, riding what experts have called the second wave of investment. The capital inflow from foreign investors during this period is expected to reach 20 billion USD, 25 percent of which could happen this year. This is largely driven by equitisation commitments of major State owned enterprises, the rise of private sector and steady investment from foreign economic entities. The Ministry of Planning and Investment (MPI) has concluded that in order to catalyse growth, investment in the form of M&As in the infrastructure sector needs to increase and expand across many branches of the economy. The projects would include upgrading roads, railways, airports and seaports to global standards, as well as establishing a stable network of real estate and retail conglomerates. Prime Minister Nguyen Xuan Phuc also emphasised this during his official visit to the US and Japan last June, informing hosts that Vietnam was pushing for M&A activities involving divestments in key sectors of the economy such as construction, retail, tourism or communications by…... [read more]

As technology is becoming an integral part of life, financial technology (fintech) is becoming ever more enticing to foreign investment in Vietnamese startups. RELATED CONTENTS: Foreign capital eyeing Vietnamese fintech Mekong Capital invests in F88 Hong Kong fintech group acquires local tech company Fintech: the new source of M&A KPMG’s quarterly report showed that in the first quarter of 2017, total global investment in fintech was $3.2 billion, with 260 deals. The Asia-Pacific alone saw 33 deals with the total value of $492 million. Vietnam is not an exception to this trend. According to the estimations of Topica Founder Institute, in 2016, total investment in Vietnamese fintech startups was $129 million, accounting for 63 per cent of all startup contract value. New companies such as Payoo, VNPT E-pay, M_Service (Momo), and F88 are leading in terms of deal value. This wave of fintech startup investment could be the new source of impressive M&A activities in the future. According to Christian Konig, fintech expert and founder of Fintech Meetup Vietnam and Fintechnews.sg, the Vietnamese fintech market has a very positive outlook. He predicted that big investors, such as Alipay, Apple pay or Samsung pay, will join the market through multiple channels. There will be a variety of products, such as insurtech for insurance and wealthtech for investment consultation, among others. Startups in this field…... [read more]

Experts in “Lessons from big deals” – the last session of the M&A Vietnam Forum 2017 predicted that the Vietnam M&A activities in 2017-2018 will be bright. Eric Solberg, CEO from EXS Capital was very positive when predicting that M&A activities in Vietnam would double or triple in the next five to ten years. Coming from Locus Capital Partner, managing partner Jacob Hoyeon Won predicted that consumer retail will be the most attractive, especially for Korean investors. Dang Van Thanh, chairman of TTC Group, and Danny Le, head of business development from Masan Group, stressed that Vietnam continues to be a capital destination of foreign investment, especially in agriculture and finance. In the real estate sector, Duong Thuy Dung, senior director, head of professional services from CBRE Vietnam, predicted that in 2017-2018, three segments which will attract most M&A will include houses for sale in Hanoi and Ho Chi Minh City, hotels and condotels in coastal provinces, and industrial properties stretching from the north to the south of the country. The optimistic forecasts were also shared by Nguyen My Phuong, CEO of Tien Phuoc Group, with more deals and increased value. Experts also shared their experiences of success and failure of the notable deals in 2016-2017 from the perspective of independent experts as well as insiders. Challenges and opportunities in M&A activities, negotiating and signing M&A contracts, the role of advisory firms in deals, valuation, finance, and…... [read more]

VinaCapital acquires $11-million stake in infrastructure construction and real estate developer Tasco JSC, making another step in its investment restructuring initiative. VinaCapital's $11 million buy-in of Tasco is a continuation of the company's strategy (Source: tasco.com.vn) According to newswire DealStreetAsia, Ho Chi Minh City-headquartered VinaCapital, through its vehicle Vietnam Opportunity Fund (VOF), has acquired almost half of the stakes put on private placement by Tasco JSC, becoming a major shareholder. The company put 21 per cent of its post-investment shares up for sale, with the value of roughly $23 million. Next to VinaCapital’s sizeable purchase, Tasco’s management team and other investors also participated in the private placement, taking up smaller shares. Earlier, Tasco announced issuing 50 million new shares to investors. At the time, VinaCapital was to pick up 30 million of these shares, accounting for 12.5 per cent equity in the company. The offer price was VND10,500 ($0.46) per share, which VinaCapital called an “attractive price,” as reported by DealStreetAsia, especially in light of the VND11,700 ($0.51) the shares were traded at on August 7. “This investment is consistent with our philosophy of investing in companies that are focused on the growth of the local economy, and infrastructure improvement is a critical element in Vietnam’s on-going development,” commented Andy Ho, CIO of VinaCapital and managing director of VOF to DealStreetAsia. In 2016, Tasco reported a revenue of $124 million, with a net profit…... [read more]

Vietnam M&A Forum 2017 has opened this afternoon in Ho Chi Minh City, promising lively discussions on the next breakthrough opportunities.  Le Trong Minh, editor-in-chief of VIR and head of the Organising Board, expressed his hope that the forum would contribute to the development of the Vietnamese M&A market, helping restructuring and increase the competitiveness of businesses in Vietnam. M& A Vietnam 2017 is now taking place at GEM Centre, District 1, Ho Chi Minh City. Co-organised annually by VIR and AVM Vietnam under the auspices of the Ministry of Planning and Investment, the Vietnam M&A Forum has been a major event in the M&A market in the past nine years. The theme of this year’s edition is Seeking a big push, as new challenges in 2017 may prevent the Vietnamese M&A market from reaching the $5-billion mark in deal value. A strong initiative is necessary to boost the quantity and quality of M&A deals. The forum this year has attracted 20 speakers and 500 senior leaders of government agencies, investment funds, and leading corporates from Vietnam and overseas.   In his opening speech, Minister of Planning and Investment Nguyen Chi Dung noted that the Ministry leaders highly appreciate the contribution that Vietnam M&A 2017 has made in the last nine years. This is particularly timely, as more state-owned enterprises become equitised and state divestments are getting stronger. Minister Dung said that the forum has promoted foreign investment in Vietnam through M&A, connected investment…... [read more]

While M&A may be a new and strange activity to Vietnamese businesses, to Masan, it is simply a tool to be used for developing their long-term vision. RELATED CONTENTS: KKR closes $250 million investment in Masan Group Masan begins trading on UPCoM Masan to issue $300 million non-convertible bonds to foreign investors Masan, banks lift local stocks Stocks up after Masan reveals dividend plan Masan Consumer moves to get listed on UPCoM Masan submits offer for remaining stake in Nui Phao mine owner Almost two years ago, on December 25, 2015, Masan Group issued a press release on the M&A deal with Singha from Thailand. Among hundreds of M&A deals in 2015, this was the deal that pushed the value of the Vietnamese M&A market over the $5-billion mark for the first time. The fact that a foreign company invested $1.1 billion in a Vietnamese business, which was a record at the time and remains one of the largest deals the market has seen so far, deeply impressed the business community in Vietnam. However, the stellar value was not the only thing making this deal unique. This was the first time in Southeast Asia, and perhaps even in the world, that two giants in consumer products joined forces without the usual buyout. It should…... [read more]

Minister of Planning and Investment Nguyen Chi Dung will open Vietnam M&A Forum 2017 this afternoon in Ho Chi Minh City. Minister Nguyen Chi Dung will give the opening speech at Vietnam M&A Forum 2017 today The forum is scheduled to take place at 1.30 PM today at GEM Centre, District 1, Ho Chi Minh City. Minister Nguyen Chi Dung will be joined by 20 speakers and 400 senior leaders of government agencies, investment funds, and leading corporations from Vietnam and overseas. Co-organised annually by VIR and AVM Vietnam, Vietnam M&A Forum is a major event for the mergers and acquisitions (M&A) market in Vietnam. Throughout the past nine years, the forum has been a platform for investors, corporations, policymakers, and other industry experts to meet and discuss opportunities in the booming market. The theme of this year’s edition is Seeking a big push, as new challenges in 2017 may prevent the Vietnamese M&A market from reaching the $5-billion mark in deal value. A strong initiative is necessary to boost the quantity and quality of M&A deals. At the event this afternoon, speakers and representatives from various sectors will discuss the most pressing issues of M&A in three panels: Identifying breakthrough sectors; Opportunities for foreign investors; and Lessons drawn from previous deals. All participants at the forum get a copy of the Vietnam M&A Outlook 2017 special publication, which provides quality coverage of the year’s deal trends. …... [read more]

About $15-20 billion of state divestment, the strongly rising private sector, and at the same time, a number of investment funds planning to divest, all of these promise to significantly contribute to the development of the sizable mergers and acquisitions (M&A) market in Vietnam. Reforms help M&A landscape to shine Danang M&As help overcome delays Increasing M&A for financial institutions Inside Habeco's factory in Me Linh, Vinh Phuc province (Photo by Duc Thanh) The M&A market in Vietnam reported a record value of $5.8 billion in 2016. In the first half of 2017, there have been concerns that the market may not exceed $5 billion. However, KPMG Vietnam forecasted that the second half of 2017 will witness more sizable M&A deals. Le Viet Anh Phong, head of Financial Advisory Services of Deloitte Vietnam, said that although the first half of 2017 did not see any breakthrough M&A deals, there were numerous small- and medium-sized ones. If huge transactions involving Hanoi Beer Alcohol and Beverage Joint Stock Corporation (Habeco), Saigon Beer, Alcohol and Beverage Corporation (Sabeco), and a number of other firms are implemented as scheduled, the value of the M&A market in 2017 could easily exceed the 2016 record. Vietnam M&A Forum 2017's research team was optimistic, saying if there were a breakthrough in state divestment, the M&A market could reach…... [read more]




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