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The Vietnam M&A Forum 2024, a prominent event dedicated to mergers and acquisitions and investment connectivity, marks its 16th edition under the organization of the Vietnam Investment Review and the guidance of the Ministry of Planning and Investment. Over the past 15 years, the Forum has attracted over 650 renowned speakers and more than 7,500 senior leaders from investment funds, consulting organizations, corporations, and enterprises across Vietnam and globally. The Forum has ranked List of 15 Notable M&A Deals in Vietnam in 2023-2024.
As part of the 16th Vietnam M&A Forum, a program was launched to celebrate enterprises with outstanding M&A transactions during the 2023-2024 period. This year, 15 companies were selected for their notable deals, which contributed to shaping Vietnam’s dynamic investment landscape. Below are some of the most remarkable deals and the companies honored:
Companies with Notable M&A Deals in 2023-2024
1. Vietnam Prosperity Joint Stock Commercial Bank (VPBank)
VPBank was recognized for selling 15% of its shares to Sumitomo Mitsui Financial Group (SMBC) of Japan, a landmark transaction valued at USD 1.5 billion.
2. CapitaLand Development (Vietnam)
The Singapore-based Sycamore Company under CapitaLand acquired the Tan Thanh Binh Duong Urban and Housing Project in Binh Duong New City from Becamex IDC for USD 553 million.
3. Thomson Medical Group (Singapore)
Thomson Medical completed its acquisition of Far East Medical Vietnam Company (FEMV), the owner of FV Hospital, in a high-profile healthcare deal worth USD 381 million.
4. Gamuda Land
Gamuda Land purchased a 3.7-hectare project in Thu Duc City (HCMC) from Tam Luc Joint Stock Company to develop the Eaton luxury apartment project, with a transaction value of USD 320 million.
5. Kim Oanh Group
This group partnered with Sumitomo Forestry Group, Kumagai Gumi Group, and NTT Urban Development Company in a share transfer deal for The One World Urban Area Project, valued at USD 350 million.
6. Southeast Asia Commercial Joint Stock Bank (SeABank)
SeABank successfully sold its finance company to AEON Financial Service Co., Ltd., Japan, for USD 200 million.
7. VIETCAP Securities JSC
VIETCAP executed a private share issuance for 64 professional investors, raising USD 158 million. The firm was honored both for its deal and its role as a consulting enterprise.
8. DB Insurance Group (Korea)
DB Insurance acquired 75% stakes in Vietnam Aviation Insurance Corporation (VNI) and BSH Insurance Corporation, with a combined value of USD 118 million.
9. KIDO Group Corporation
KIDO completed two significant transactions: acquiring 68% of Tho Phat International Joint Stock Company in 2023 and 75% of Hung Vuong Plaza in 2024, totaling USD 90 million.
10. Nutifood Nutrition Food Joint Stock Company
Nutifood purchased a 51% stake in KIDO Frozen Food Joint Stock Company, the owner of Kido’s Ice Cream, in a strategic acquisition completed in 2023.
11. BIWASE (Binh Duong Water and Environment Corporation)
BIWASE continued its core investment strategy by acquiring 43% of Tan Hiep Water Plant shares in Hoc Mon in 2024.
12. GELEX Group Corporation
GELEX divested from renewable energy projects, including 80% of GELEX Ninh Thuan Energy, 100% of Huong Phung Wind Power, and 100% of GELEX Quang Tri Energy, showcasing strategic capital restructuring.
13. Coteccons Construction Joint Stock Company
Coteccons expanded its ecosystem by acquiring Sinh Nam Metal Vietnam and UG Vietnam Mechanical and Electrical Company.
14. TTC Group
TTC successfully transferred two solar power plants in Tay Ninh province (TTC1 and TTC2) to Gulf Energy Group (Thailand).
15. TASCO Company
TASCO welcomed Mitsui & Co as a strategic shareholder in Tasco Auto and acquired full ownership of Sweden Auto, the exclusive Volvo importer and distributor in Vietnam.
Impact of M&A on Vietnam’s Economic Growth
These notable M&A deals illustrate the continued integration of Vietnamese enterprises with global partners, fostering innovation, expanding market reach, and enhancing competitiveness. The 16th Vietnam M&A Forum serves to celebrate these achievements while motivating further collaborations and investments.
As Vietnam progresses toward economic modernization, the role of M&A in driving sustainable development remains pivotal. The businesses honored at the Forum exemplify the potential for growth and innovation through strategic partnerships and investments.
At the Forum, ASL LAW has been also ranked as the Outstanding M&A consulting and law firm in Vietnam for the period of 2023-2024.
ASL Law is a leading full-service and independent Vietnamese law firm made up of experienced and talented lawyers. ASL Law is ranked as the top tier Law Firm in Vietnam by Legal500, Asia Law, WTR, and Asia Business Law Journal. Based in both Hanoi and Ho Chi Minh City in Vietnam, the firm’s main purpose is to provide the most practical, efficient, and lawful advice to its domestic and international clients. If we can be of assistance, please email to [email protected].
ASL LAW is a top-tier Vietnamese law firm that provides in-depth legal advice in Vietnam and internationally. If you need any advice, don’t hesitate to get in touch with us for further information or collaboration.
