Merger and acquisition opportunities promising in Vietnam: newspaper
4/7/2008 17:41
Merger and acquisition (M and A) opportunities in Vietnam look promising
with 1,092 acquisition deals completed in 2007, local newspaper Young People
reported today.
The acquisitions last year included Japan's Sumitomo Mitsui
Banking Corporation's 225US$-million bid for a 15-percent stake in the Vietnam
Export and Import Bank, French insurer AXA's bid of 50 million euros (US$82.3
million) for a 16.6-percent stake in local insurer Bao Minh, and Australian
Qantas Airways' 50US$- million bid for a 30-percent stake in Pacific
Airlines.
The number of M and A deals in Vietnam rose in the first quarter of
this year, with the value of transactions up to US$302.3 million, said Stephen
Gaskill from consulting firm PricewaterhouseCoopers. The outlook for M and A
activities remained positive although the value of transactions slipped to 44.
US$1 million in the second quarter.
"The decline came in wake of the fact
that not many M and A deals in the second quarter were announced in the media,"
he said, adding that many notable deals will be revealed later this
year.
Xinhua
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