The transaction consideration amounts to approximately $870 million and the deal is expected to be completed in the first half of next year.
The acquisition is the largest-ever transaction in Vietnam’s healthcare sector, paving way for the group’s expansion across Southeast Asia.
Transaction values VinCommerce at $2.5 billion for 100 per cent of its equity.
Local authorities are enforcing orders to temporarily cease the transfer, conversion of land use purpose and modification of land ownership after a dramatic increase in land prices in the future special economic zones (SEZs) such as Van Don, Phu Quoc and Northern Van Phong.
On the second day (Nov 07) being traded on the Hochiminh Stock Exchange (HOSE), Vincom Retail’s shares (VRE) hit the record of the stock market with 415 million shares worth nearly VND17 trillion (roughly US$740 million) being purchased.
Violators can be penalized under the disapproval of opening new branches, transaction offices and ATMs.
The land prices promulgated by the People's Committees of provinces and cities are far different from the actual transaction prices on the market and such a practical swing is resulting in shortcomings and corruption to incur losses to the State budget.
On July 18th, 2017, the Asian Development Bank (ADB) and the Da Nang City People’s Committee signed a transaction advisory services agreement to develop a new land fill and a waste treatment facility.
