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10 noteworthy M&A transactions involving Vietnamese enterprises from 2009 to 2023 were unveiled during the Vietnam M&A Forum 2023. Here’s a summary of the 10 highlighted deals.
1. Masan Group’s Acquisition of VinComerce and VinEco (Vingroup Subsidiaries)
In December 2019, Masan Group and VinGroup reached a preliminary agreement for the merger of MCH and VinCommerce, VinEco, resulting in Masan gaining control and becoming a leading consumer retail group in Vietnam.
2. TTC Group’s Merger of Thanh Thanh Cong Tay Ninh Sugar and Bien Hoa Sugar
In 2017, TTC Group completed the merger of Bien Hoa Sugar and Thanh Thanh Cong Tay Ninh Sugar, forming Thanh Thanh Cong – Bien Hoa Joint Stock Company (TTC AgriS), currently managing all TCC sugar business units according to the Corporation model.
3. An Quy Hung’s Acquisition of Vinaconex Construction
In late 2018, An Quy Hung shocked the financial community by acquiring Vinaconex, outbidding competitors with a substantial offer of over VND 7,700 billion (about USD 320 million).
4. THACO’s Acquisition of Hoang Anh Gia Lai Agricultural Joint Stock Company
THACO signed a strategic cooperation agreement in August 2018, acquiring a 35% stake in HAGL, demonstrating specific efforts to contribute to Vietnam’s agriculture ranking among the top 15 developed countries globally.
5. Masan’s Purchase of Phuc Long Shares
Over the course of 2021 and 2022, Masan progressively acquired shares of Phúc Long, ultimately securing an 85% ownership stake, and integrating Phúc Long kiosks into its network nationwide.
6. Kido’s Acquisition of Vocarimex
Kido acquired a 51% stake in Vocarimex in 2017, solidifying its position in the Vietnamese cooking oil market. In 2021, Kido increased its ownership to 87.29% through additional share purchases.
7. Vinamilk’s Acquisition of GTN (Moc Chau Milk)
Vinamilk acquired GTN shares in December 2019, elevating its ownership to 75%, making it the parent company of GTN and indirectly holding a 51% voting stake in Mộc Châu Milk.
8. GELEX’s Purchase of Viglacera Shares
GELEX’s public offering in 2020 successfully increased its ownership in Viglacera to 46.15%, and subsequent purchases in 2021 brought the ownership to 50.2%.
9. Masan’s Acquisition of Vinacafe Bien Hoa
In 2020, Masan Beverage completed the purchase of Vinacafe Bien Hoa, raising its ownership to 100%, and solidifying its position in the coffee and beverage market.
10. F.I.T’s Acquisition of Khanh Hoa Mineral Water (Vikoda)
F.I.T acquired Khanh Hoa Mineral Water in 2015, investing in modernizing production, enhancing management systems, and expanding distribution channels for Vikoda products.
Typically, during the M&A Forum, ASL LAW is awarded one of the Outstanding Vietnam M&A Advisors from 2009-2023.
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