An Quy Hung Company Limited has paid the State Capital Investment Corporation, the previous owner of Vinaconex, over $316 million to acquire nearly 58 per cent of Vinaconex’s shares.
A bidder has generously offered $316 million to acquire a struggling Vinaconex, which economic experts find hard to understand.
An Quy Hung Company Limited is to mobilize over $300 million to pay the State Capital Investment Corporation, the current owner of Vinaconex before December 5 to aquire the leading real estate and construction firm.
Refrigeration Electrical Engineering Corporation (REE) and Ecology Developmentand Investment JSC, a subsidiary of Vingroup, have been named as qualified investors that will participate in the auction of a 51 per cent stake in Vinaconex Water Supply JSC (Viwasupco), which is owned by Vietnam Construction and Import - Export Corporation (Vinaconex).
In addition big companies such as Vingroup and Bitexco, a new generation of real estate investors has emerged and overshadowed popular names such as Vinaconex (Vietnam Construction and Im-export JSC), HUD (Housing and Urban Development Corporation) or Sudico (Song Da Urban & Industrial zone Investment and Development Joint Stock Company).
