Xuan Cau Investment JSC acquires 50 per cent of BVIM's stakes

Minh Anh - Sep 21, 2017 | 07:42 AM GMT+7

TheLEADERBank for Investment and Development of Vietnam (BIDV) and Xuan Cau Investment Joint-Stock Company (JSC) have entered an agreement on acquisition of 50 per cent stakes of BVIM which, found in 2006, is a 50:50 joint venture between BIDV and Vietnam Partners LLC to manage investment funds in Vietnam.

Xuan Cau Investment JSC acquires 50 per cent of BVIM's stakes
Xuan Cau Investment Joint-Stock Company. Photo: Piaggio Xuan Cau

This transaction should be approved by the State Securities Commission.

BVIM has a charter capital of VND25 billion (roughly US$1.1 million). After establishment, BVIM has mobilized USD84million to form a fund investing in many Vietnamese enterprises since 2007 such as Vinasun, FPT, Minh Phu Seafood Corporation, SSI, Eximbank… This investment fund has an 8-year duration. It will be extended for more two years and closed on December 31, 2017.

BVIM’ other US$42-million investment fund has been closed since early 2013 with an 18 per cent of yield for investors. From December 31, 2017, BVIM will manage no investment funds.

Xuan Cau Investment JSC, which is under Xuan Cau Co., Ltd, is a multi-sector company in Vietnam. Especially, it has become the official distributor of Piaggio in Vietnam for 15 years.

In addition, Xuan Cau Investment JSC actively participates in the real estate market with many projects of resorts, urban areas and trade centers in Hanoi. It is also involved in the fields of mining and telecommunications.