M&A NEWSLETTER
Scatec to sell Dam Nai Wind Farm to SAETF
Scatec ASA has agreed to sell its 39MW Dam Nai Wind Farm in Ninh Thuan province, Vietnam, to the SUSI Asia Energy Transition Fund (SAETF). The deal is worth $27 million upfront, with potential additional payments of up to $13 million by 2026 depending on certain conditions being met by 2026. Scatec’s decision to exit Vietnam follows its acquisition of the wind farm as part of its purchase of SN Power in 2021. This move aligns with Scatec's strategy to focus on markets offering stronger growth opportunities. The deal is expected to close in the first half of 2025, pending regulatory approvals.
KIDO increases ownership in Hung Vuong to more than 75%
KIDO Group has increased its ownership in Hùng V??ng Corporation to 75.39%, as of August 27, 2024. This acquisition is part of KIDO’s broader strategy to eventually hold 77% of the company. Hùng V??ng Plaza, a major shopping center in Ho Chi Minh City, was previously managed by Parkson but faced financial difficulties, leading to Parkson's bankruptcy in April 2023. KIDO quickly took over and revitalized the mall, relaunching it in October 2023 under the Hùng V??ng Plaza brand. This marks KIDO's continued expansion into Vietnam's retail sector, following its success with V?n H?nh Mall.
Japanese pharmaceutical company wants to increase ownership in Ha Tay Pharmaceutical to 35%.
ASKA Pharmaceutical, a Japanese company, is looking to increase its stake in Hà Tay Pharmaceutical (DHT) to 35%. Currently, ASKA holds 34.99% of DHT's shares after acquiring an additional 8.4 million shares in 2023. This move is part of ASKA's strategy to strengthen its presence in Vietnam's pharmaceutical market, where it has been a strategic investor since 2021.
The company initially became the largest shareholder in DHT by purchasing nearly 5.3 million shares at a premium price. This expansion comes as DHT is focused on investing in high-tech pharmaceutical production and reducing its financial liabilities,
Masan Group spends 200 million USD to buy Wincommerce shares from SK Group
Masan Group is investing $200 million to acquire a stake in WinCommerce from SK Group. This acquisition is part of Masan's strategy to strengthen its retail presence and expand its market share in the retail sector in Vietnam. The move underscores Masan's commitment to growing its footprint in the consumer goods and retail markets.
Sabeco wants to spend more than 800 billion to acquire the largest Saigon beer processing company that it has not yet taken control of.
Sabeco plans to spend over 800 billion VND to acquire a 43.2% stake in Sabibeco Group, increasing its total ownership to 59.6%. Currently, Sabeco holds 16.4% of Sabibeco’s shares. If successful, Sabeco will become Sabibeco’s parent company. The acquisition is aimed at expanding Sabeco's production capacity. Sabibeco is the largest contractor producing Saigon beer products. Sabeco offers 22,000 VND per share, with the total deal valued at over 830 billion VND. Sabibeco has been facing financial losses for four consecutive years.
Viconshin completes divestment at Dinh Vu Petroleum Service Port
Viconship has completed the sale of its entire 22% stake in ?ình V? Petroleum Service Port (PTSC ?ình V?) for at least 88.2 billion VND. This move is part of Viconship’s strategy to divest from non-core businesses and focus on expanding its primary sectors. Earlier in 2024, Viconship also exited other investments, including a hotel project, to reduce financial burdens. The company is now concentrating on port operations, having fully acquired Nam H?i ?ình V? Port for over 3.18 trillion VND.
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A long-time partner is ambitious to increase investment in Hai An Transport and Stevedoring JSC.
On September 12, Marina Logistics announced that it had purchased 600,000 HAH shares , thereby increasing its ownership ratio to 3,922%. Immediately after the transaction, Marina Logistics registered to purchase another 650,000 shares to increase its ratio to 4,457%.
Marina Logistics, a long-time partner of Hai An Transport (HAH), has increased its stake in HAH by purchasing 600,000 shares, raising its ownership to 3.92%. The company plans to buy an additional 650,000 shares, potentially increasing its stake to 4.46%. This move reflects Marina's ambition to further invest in HAH, a company it has partnered with for years in shipping and logistics operations.
Hoa An Fianance plans to spend 267 Billion to buy VFS shares
VFS announces the transaction of Hoa An Financial Investment Joint Stock Company - an organization related to the Chairman of the Board of Directors.
Hòa An Financial Investment Company plans to spend 267 billion VND to purchase 20.5 million shares of VFS Securities (Nh?t Vi?t Securities). This acquisition will give Hòa An a 17% stake in VFS, making it the largest shareholder. The transaction is scheduled between September 16 and October 15, 2024. This move follows Nghiêm Ph??ng Nhi's appointment as VFS Chairwoman, who also holds leadership positions in Hòa An and Amber Capital.
AAA will receive 11.2 million NHH shares from the parent company
On September 10, 2024, the Board of Directors of An Phat Xanh Plastic JSC (HOSE : AAA) approved the purchase of shares of Hanoi Plastic JSC ( HOSE : NHH ) with the aim of restructuring the Group's ownership structure.
AAA, a subsidiary of An Phát Holdings, plans to acquire 11.2 million shares of Hanoi Plastics (NHH) from its parent company, increasing its ownership to 62.75%. The deal is part of a restructuring within the group, with the transaction happening between September 13 and October 11, 2024. The estimated transfer value is around 153 billion VND. After the sale, An Phát Holdings will hold an indirect stake of 31.5% in NHH through AAA.
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M&A in the pharmaceutical sector is "heating up"
Offerings to buy and sell hospitals, clinics, and transferring shares of pharmaceutical and healthcare enterprises are still being "ordered" by intermediaries to find potential buyers/sellers. In fact, although not too "hot", the pharmaceutical and healthcare industries are still the industries that M&A money flows seek every year.
The M&A (mergers and acquisitions) activity in Vietnam’s pharmaceutical and healthcare sectors is heating up due to rising demand for high-quality healthcare. Several factors, such as a growing population, increased healthcare spending, and greater interest from foreign investors, are driving this trend. The market is becoming more attractive, with companies seeking to expand their portfolios by acquiring or merging with local firms. Additionally, the government’s focus on healthcare modernization and regulatory reforms further boosts M&A opportunities in the industry.
M&A market signals rising activity
Lately, major players in the?market have stepped into the spotlight with notable transactions.
Vietnam's mergers and acquisitions (M&A) market is experiencing rising activity as foreign and domestic investors increasingly target sectors such as industrial real estate, healthcare, technology, and green energy. Recent deals include Japanese firm ASKA Pharmaceutical's interest in acquiring a 35% stake in Hà Tay Pharmaceutical and Singapore's Mapletree Logistics Trust investing over $50 million in warehouses in Bình D??ng and H?ng Yên. Additionally, CapitaLand plans to invest $70-110 million in Vietnam’s industrial zones. The real estate and retail sectors are also expected to see substantial growth.
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Real estate M&A heats up: Domestic and foreign giants "race" to expand
Recently, domestic giants have also "appeared" in the M&A market. A series of sensational deals have taken place, such as KIDO Group increasing its ownership in Hung Vuong Joint Stock Company or Muong Thanh Group owning Hoang Anh Gia Lai Hotel. Not only Vietnamese enterprises, foreign giants have also brought in large projects.
Vietnam's real estate M&A market is heating up with both domestic and international giants expanding aggressively. Major deals include KIDO Group increasing its stake in Hùng V??ng, M??ng Thanh acquiring Hoàng Anh Gia Lai's hotel, and Novaland selling a subsidiary. Foreign players like Nishi Nippon Railroad and Kim Oanh Group are also heavily investing in projects. Experts note that the Vietnamese real estate market, especially housing, offers high returns, attracting long-term foreign interest, particularly from Japan, Korea, and Singapore.