By Nguyen Thi Bich Ngoc
Canada’s Sun Life Financial has acquired 25 per cent equity of Crescent Asia Limited, the holding company of Global Online Financial Solutions (GOFS), which operates Vietnam’s first digital bank Timo, and forged a three-year partnership in insurtech with GOFS. The partnership will be implemented directly through the insurer’s Vietnam-based unit. Timo… Read more »
DSA had earlier reported that VIGroup had led a $2m series A round in it
Listing is taking place six years after its IPO.
Cross-border M&A activity has seen a surge in Vietnam with three transactions announced in the past week, including Vinamilk’s takeover of Cambodia-based joint venture Angkormilk, Savills’ merger with hotel advisory firm Alternaty, and DKSH’s acquisition of Vietnamese marketing firm IMA. Vinamilk acquires remaining stake at Angkormilk for more than $10m… Read more »
Global alternative investment firm TPG has reached an agreement to acquire majority stake in Vietnam Australia International School (VAS), as its existing shareholders – Mekong Capital and MAJ Invest – plan to fully divest their stakes in the company. Meanwhile, Pham Tan Nghia, founder of VAS, will continue as a shareholder after… Read more »
It will set up Raffles City in Vietnam.
VNG Corporation picked up 38% in Tiki, valuing it at $45m
ANZ is looking to exit its retail banking operation in Vietnam, and five commercial lenders have submitted bids for the sale, according to local media. The Saigon Times was the first publication to report the news, which said three foreign banking institutions and two Vietnamese lenders were interested (in the… Read more »
Singapore-based developer Keppel Land has increased its ownership in Keppel Land WATCO I to V, by purchasing another 16 per cent equity from the Vietnamese JV partner, Southern Waterborne Transport Corporation. Keppel Land WATCO are a series of joint venture companies that are involved in development of Ho Chi Minh City-based… Read more »
Uber has launched its startup mentorship programme UberEXCHANGE in Vietnam, the ride-hailing app’s first initiative in Southeast Asia and the second globally after India. Uber has started inviting applications for the programme and will accept entries from now till April 2017. The programme will end in August The best startups emerging from… Read more »